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News from American International Group Inc., Munich Re, NSM Insurance Group and more. News from American International Group Inc., Munich Re, NSM Insurance Group and more. (Photo: Shutterstock)

American International Group Inc. and Munich Re announced today that AIG Life Ltd., a U.K. subsidiary of AIG Life & Retirement, has agreed to acquire Ellipse, a specialist provider of group life risk protection in the U.K., from Munich Re. The transaction, the terms of which were not disclosed, will be fully funded with cash and is expected to close in the first quarter of 2019, subject to regulatory approval.

NSM Insurance Group, owner of American Collectors Insurance (ACI), launched a strategic partnership with The Automobile Driving Museum (ADM), located in El Segundo, Calif. Under the terms of the agreement, NSM/ACI has provided insurance for ADM’s collection of over 115 collector cars and ACI has been recognized as the “official insurance company of the Automobile Driving Museum.”

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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