Group life, critical illness and income protection business bought from Munich Re
AIG Life has announced the acquisition of group life insurer Ellipse from Munich Re, which is expected to close in the Q1 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 & Retirement businesses while pursuing opportunistic growth," said Kevin Hogan, executive vice president and...
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