Group life, critical illness and income protection specialist
In June, we reported that AIG Life had bought group insurer Ellipse from Munich Re.
On 31 December, the life insurer confirmed that the transaction, the terms of which were not disclosed, has been completed following the receipt of regulatory approval.
Ellipse is a specialist group life, critical illness and income protection provider in the UK with a technology-enable business model.
AIG Life will now distribute both group and individual protection insurance policies to UK consumers through financial intermediaries, employee benefits consultants and partnerships.
Adam Winslow, CEO, international at AIG Life & Retirement, said: "I am delighted that we have completed the acquisition of Ellipse and I look forward to working together with our new colleagues to build a stronger combined presence in the UK individual and group risk protection markets."
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