CV Starr's companies: How the company is structured
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STARR INTERNATIONAL COMPANY
Starr International is a private investment company incorporated in Panama in 1943. From 1943 through 1970, Starr International built and operated a global network of managing general agency (MGA) businesses to offer insurance for risks around the world.
In 1970, Starr International sold its MGA business to American International Reinsurance Company (Airco), in exchange for Airco common stock. At the time, Airco was the majority shareholder of American International Group, a new public company formed in 1967.
When Airco merged into AIG in 1978, Starr International became the largest single stockholder in AIG, and remains so today, owning approximately 9.9% of AIG's common stock.
Starr International now serves as a private financial services holding company with approximately $20bn in assets world wide.
Starr International Advisors: A New York-based investment advisor to Starr International.
Starr Insurance & Reinsurance Limited (SIRL): A regulated financial institution incorporated on Bermuda in April 2007. It is approved and regulated by the Bermuda Monetary Authority and registered as a Class 4 insurer. SIRL was established to take quota-share business produced by five CV Starr underwriting agencies, with the purpose of building a diverse and profitable portfolio across multiple lines of business.
Starr Indemnity & Liability Company (formerly known as Republic Insurance Company): Acquired by Starr International in October 2007, SILC was incorporated in Texas on April 15 1919. Located in Dallas, Texas, SILC is widely licensed to transact property/casualty coverage in the areas of aviation, property, casualty and boiler and machinery, financial lines, professional liability and marine.
Starr Indemnity & Liability Company was assigned an A rating by AM Best in June 2008.
CV STARR & CO
CV Starr & Co is a privately-owned investment holding company with insurance agencies and a portfolio of global investments. It was incorporated in Delaware, US in 1950. In 1970, CV Starr sold the bulk of its assets, including the domestic managing agency for its foreign general insurance business to American International Group in exchange for AIG common stock. CV Starr kept several domestic agencies, and certain real estate properties and other investments.
The Starr Underwriting Agencies represent Ace, Berkshire Hathaway, Chubb, Everest Re and Lloyd's of London.
CV Starr has more than $3bn in investment assets, including public and private equity, hedge funds and alternative assets.
Starr Underwriting Agencies comprises Starr Aviation, Starr Tech, Starr California, Starr Marine, Starr Global Accident & Health Insurance Agency, Starr Underwriting Agents Limited, Starr Underwriting Agents (Hong Kong) Limited and Starr Syndicate Limited.