American International Group, in collaboration with specialty insurance distributor Amwins and Blackstone-managed funds, announced the formation of new Lloyd's syndicate, Syndicate 2479.
Set to begin underwriting on Jan. 1, 2026, the syndicate will manage $300 million in premium, representing a diversified cross-section of Amwins’ approximately $6 billion in delegated authority premiums. AIG will serve as the managing insurer for the new syndicate.
Use of tech and GenAI
AIG is deploying Palantir’s Foundry platform and multiple Large Language Model (LLM) agents to enhance portfolio assessment and underwriting capabilities. The technology allows AIG to quickly retrieve data and evaluate defined risk characteristics across Amwins’ program portfolio, ensuring alignment with Syndicate 2479’s risk appetite. AIG has also developed a proprietary ontology enabling LLMs to access more than four million industry data points, improving risk evaluation at the individual policy level.
Peter Zaffino, AIG chairman and CEO, emphasized that the collaboration represents an advancement in portfolio modeling and GenAI deployment.
"The formation of Syndicate 2479, which includes capital investment provided by Amwins and Blackstone, further advances our deployment of GenAI through a capability that can evaluate risk with more data and analytics at the individual level to optimize the special purpose vehicle," he said.
Scott Purviance, CEO of Amwins, said that the partnership will enable aligned capital deployment alongside a multiline underwriting portfolio. The syndicate structure also facilitates the creation of new programs and supports long-term sustainable capacity, benefiting brokers, clients and capital partners alike.
Meanwhile, Palantir CEO Alex Karp added that the collaboration demonstrates how software and AI can create efficiencies, strengthen underwriting precision, and drive innovation in the insurance sector.
A broader trend in the specialty insurance market
The launch of Syndicate 2479 reflects a broader trend in the specialty insurance market toward integrating technology, AI, and third-party capital to enhance underwriting precision and portfolio management.
By leveraging GenAI, insurers can optimize risk selection, potentially easing capacity constraints in high-demand lines and improving risk-adjusted returns. The model may also influence pricing dynamics, as more data-driven underwriting could reduce volatility and enable carriers to offer competitive premiums while maintaining sustainable profitability.
Evercore, Aon plc, and Debevoise & Plimpton LLP acted as advisers to AIG on the transaction.
