AIG Completes the Acquisition of Ageas Protect, Leading Provider of Life Protection Products
January 05 2015 - 1:45AM
Business Wire
American International Group, Inc. (NYSE:AIG) today announced
the completion of its previously agreed acquisition of Ageas
Protect Limited, a leading provider of term life, critical
illness, and income protection coverage to over 350,000 consumers
in the UK, Channel Islands and Isle of Man. AIG's agreement to
acquire Ageas Protect was announced in August 2014.
AIG has been present in the UK insurance market for over 50
years and is known for its expertise in underwriting, distribution
and marketing, as well as for its network of strong commercial
relationships.
Ageas Protect is recognised in the industry for product
innovation, the effective use of technology and high quality
service. AIG believes that the acquisition will enhance its
Consumer Insurance business and strengthen its capability in the
UK, where it already offers personal accident, health and travel
insurance coverage to consumers, as well as customized insurance
solutions for high net worth individuals through AIG Private Client
Group.
“We are excited by this opportunity to strengthen AIG’s presence
in the UK life protection market and look forward to working with
the management, employees and distributors who have done such a
great job in growing Ageas Protect into a leading market presence
in such a short time,” said Kevin Hogan, AIG Chief Executive
Officer of Consumer Insurance. “The acquisition of Ageas
Protect helps drive the continued expansion of AIG’s Consumer
portfolio of insurance solutions designed to meet consumer needs
for financial and retirement security. By building on shared values
such as product innovation and service excellence, we will ensure
that AIG becomes the most valued insurer to even more consumers in
the UK and everywhere we do business.”
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. (AIG)InvestorsLiz Werner,
212-770-7074elizabeth.werner@aig.comorMediaMatt Gallagher,
212-458-3247matthew.gallagher2@aig.comorMedia, UKStephen Muir,
+44-207-954-8288stephen.muir@aig.com
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