American International Group (NYSE:AIG) agrees to buy Ellipse from Munich Re for undisclosed terms.
The deal gives AIG Life & Retirement a provider of group life risk protection in the UK and a technology-enabled business model with high levels of straight-through processing.
Deal will be fully funded with cash and is expected to close in Q1 of 2019.
As of May 2018, Ellipse holds approximately GBP64M of in-force premiums and nearly 4,500 in-force policies covering over 370,000 lives.