AIG Life Completes Acquisition Of Ellipse From Munich Re

(RTTNews) - American International Group Inc. (AIG) announced that AIG Life Limited, a UK subsidiary of AIG Life & Retirement, has completed the acquisition of Ellipse, a specialist group life, critical illness and income protection provider in the UK, from Munich Re.

AIG believes Ellipse's group protection expertise, alongside its technology-enabled business model, makes it a strong strategic fit with the existing AIG Life Limited operation in the UK.

AIG Life will now distribute both group and individual protection insurance products to UK consumers through financial intermediaries, employee benefits consultants and partnerships.

The transaction, the terms of which were not disclosed, closed following the receipt of required regulatory approval.