AIG Agrees to Acquire Ireland’s Laya Healthcare
January 21 2015 - 01:30AM
Business Wire
American International Group, Inc. (NYSE:AIG) today announced
that it has agreed to acquire Laya Healthcare, Ireland’s second
largest health insurance provider. The transaction is expected to
close in the first half of 2015, subject to regulatory
approvals.
Operating in Ireland since 1997, Laya Healthcare has nearly
500,000 customers. It employs 450 people, principally in Cork, and
serves more than 23% of the Irish private health market. The
company also offers life, dental, and travel insurance, as well as
health and wellness coverage.
Laya Healthcare will become part of AIG’s Health business, which
is focused on offering creative solutions to AIG’s customers and
partners in a rapidly changing global healthcare environment.
Expansion of the Health business is critical to AIG’s Consumer
Insurance strategy of meeting the broad insurance needs of
consumers in markets around the globe.
“Laya Healthcare’s experienced management team and its success
focusing on consumers in the healthcare space strengthen our
commitment to selectively expanding healthcare solutions,” said
Kevin Hogan, AIG’s Chief Executive Officer of Consumer Insurance.
“So much of what we are devoted to in Consumer Insurance centers on
meeting the needs of our customers in the markets we serve, and
that includes our innovative health coverage offerings.”
The Laya Healthcare acquisition will add to the deep technical
and product experience in health insurance that AIG has built over
many years through successful product offerings such as
supplemental health and stop loss/medical excess insurance.
Jay Sheehy, Global Head of AIG’s Health business, said, “The
acquisition of Laya Healthcare is an opportunity to work with
business leaders who know how to achieve value and growth in a
highly regulated healthcare market. Building on Laya Healthcare’s
success serving customers in Ireland is an important step in
expanding AIG’s Health and Consumer strategies.”
AIG has been a part of Ireland’s business community for 40
years. It provides auto, home, personal accident, and travel
insurance to the Irish market, as well as commercial insurance
products. AIG also has a significant IT and asset management
presence in the country, supporting its European and global
operations.
American International Group, Inc. (AIG) is a leading
international insurance organization serving customers in more than
130 countries. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG
companies are leading providers of life insurance and retirement
services in the United States. AIG common stock is listed on the
New York Stock Exchange and the Tokyo Stock Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig |Twitter: @AIG_LatestNews| LinkedIn:
http://www.linkedin.com/company/aig |
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
American International Group, Inc.MediaJon Diat,
212-770-3505jon.diat@aig.comorMatt Gallagher,
212-458-3247matthew.gallagher2@aig.comorInvestorsLiz Werner,
212-770-7074elizabeth.werner@aig.com
American (NYSE:AIG)
Historical Stock Chart
From Feb 2024 to Mar 2024
American (NYSE:AIG)
Historical Stock Chart
From Mar 2023 to Mar 2024