American International Group acquired GE Edison Life Insurance Company (Japan) (not disclosed in AIG's SEC-filed materials reviewed).
GE Edison Life Insurance Company (Japan) operates in International life insurance (Japan), is based in Japan. AIG acquired GE Edison Life Insurance Company, a Japanese life insurer, from General Electric in 2003. AIG described the deal in its 2003 earnings disclosures: in July 2003 it noted that on completion of the GE Edison Life acquisition, AIG would have the leading foreign life-insurance presence in Japan and a strong distribution platform, and in its February 2004 full-year report it listed the completed acquisition of GE Edison in Japan among the important investments made in 2003. Because AIG disclosed the deal only within quarterly earnings releases (not a stand-alone deal 8-K), the consideration is not stated in the SEC materials reviewed here.
AIG said completing the GE Edison Life acquisition would give it the leading foreign life-insurance presence in Japan (the world's second-largest life market at the time) and a strong distribution platform for life, annuity and accident-and-health products.
Scale and distribution in Japan, then the world's second-largest life-insurance market, establishing AIG as the leading foreign life insurer there. AIG's international (Japan) life insurance operations
When we complete the acquisition of GE Edison Life in Japan, AIG will have the leading foreign life insurance presence in the marketplace and a strong distribution platform for serving the life, annuity, and accident and health insurance needs of this important market.AIG (2003 second-quarter earnings release)
Advisory firms were not disclosed for this transaction.