AIG Life has announced the acquisition of group life insurer Ellipse from Munich Re, with the deal expected to complete in the the first quarter of 2019, subject to regulatory approval.
The cash transaction will see AIG Life consume Ellipse's life, critical illness and income protection products, along with its technology-enabled business model for straight-through processing for group risk schemes. "The acquisition of Ellipse reflects our disciplined approach to selectively expanding our existing life and retirement businesses while pursuing opportunistic growth," said AIG Life & Retirement executive vice president and chief executive officer Kevin Hogan. "Ellipse brings a strong team with a scalable business platform to our well-positioned, technology-driven UK lif...
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