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.
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