AIG Life To Acquire Ellipse From Munich Re - Quick Facts

(RTTNews) - American International Group, Inc. (AIG) and Munich Re announced that AIG Life Ltd., a UK subsidiary of AIG Life & Retirement, has agreed to acquire Ellipse, a specialist provider of group life risk protection in the UK, from Munich Re. The transaction will be fully funded with cash. The acquisition is expected to close in the first quarter of 2019.

Ellipse has grown to become the 6th largest UK group life provider based on 2017 new business volumes. As of May 2018, the company holds approximately 64 million pounds of in-force premiums and nearly 4,500 in-force policies covering over 370,000 lives.