Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

AIG To Buy Ageas Protect Ltd. From Ageas Group For GBP181 Mln - Quick Facts

RELATED NEWS
Trade AIG now with 

American International Group, Inc. (AIG: Quote) Monday said it will buy Ageas Protect Ltd. from the Belgium-based international insurer Ageas Group (AGESY.PK), for 181 million pounds or nearly $305 million. The acquisition is expected to close in the fourth quarter of 2014.

Ageas Protect is a provider of life protection products in the UK, offering term life, critical illness, and income protection coverage to consumers. Started in July 2008, currently it holds 4.8 percent share of new protection business across the UK market, and an 8.4 percent share of the important UK Independent Financial Advisor channel. In 2013, the company produced premiums of 91.8 million pounds.

Following the transaction, Ageas Protect will become part of AIG's Global Consumer business, which offers personal accident, health, and travel insurance coverage to consumers in the U.K.

Click here to receive FREE breaking news email alerts for American International Group, Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks saw some volatility following the release of the Federal Reserve's monetary policy announcement on Wednesday but managed to end the day modestly higher. With the upward move, the Dow reached a new record closing high. President Barack Obama sought to emphasize in remarks on Wednesday that the American forces being deployed as part of the fight against the terrorist group ISIS will not have a combat mission. Republican Joni Ernst has moved into the lead in the potentially crucial Iowa Senate race, according to the results of a Quinnipiac University poll released on Wednesday. The poll found that 50 percent of likely Iowa voters would support Ernst if the election were held today, while 44 percent would vote for Democratic Rep. Bruce Braley.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.