American International Group acquired Ellipse (UK group protection) (not disclosed in AIG's SEC-filed materials reviewed).
Ellipse (UK group protection) operates in International life insurance (UK group protection), is based in United Kingdom. AIG's UK life business acquired Ellipse, a UK group-protection (group life and income-protection) insurer, from Munich Re. AIG referenced the acquisition in its first-quarter 2019 earnings release, noting that total premiums and deposits increased partly due to the addition of group-protection sales from the acquisition of Ellipse. The consideration and precise closing date were not stated in the SEC materials reviewed here.
Ellipse added a group-protection product line to AIG's UK individual life-protection platform (AIG Life), broadening its UK protection offering.
A UK group-protection book that complemented AIG Life's individual-protection franchise. AIG Life (UK) group-protection operations
Advisory firms were not disclosed for this transaction.