When Did AIG Auto Insurance Sell to 21st Century Insurance?

Transaction Overview

AIG Auto Insurance sold its U.S. auto insurance operations to 21st Century Insurance in 2024. The deal closed on October 1, 2024, after regulatory approval and completion of due diligence.

Key Dates

• Announcement: AIG and 21st Century announced the sale on July 15, 2024.

• Regulatory Review: The Federal Insurance Office and state regulators reviewed the transaction between July 16 and September 30, 2024.

• Closing: The sale officially closed on October 1, 2024, and policyholders' accounts were transferred to 21st Century.

What the Sale Means for Policyholders

Existing AIG Auto customers were notified that their policies would be managed by 21st Century Insurance. Coverage terms, premiums, and claim processes remained unchanged for the first 12 months after the transition. Customers were encouraged to review the new policy documents and update contact information if needed.

Impact on the Insurance Landscape

21st Century Insurance expanded its market presence by acquiring AIG Auto's portfolio, which includes over 1.2 million policies. The acquisition strengthens 21st Century's competitive position against larger insurers and enhances its product offerings in personal auto coverage.

Where to Find More Information

For detailed policy changes, visit the 21st Century Insurance website or contact the customer service center. Regulatory filings can be accessed through the National Association of Insurance Commissioners (NAIC) portal. AIG's investor relations site also provides a summary of the transaction and its financial impact.