LONDON, UK / ACCESSWIRE / June 22, 2018 / If you want access to our free research report on American International Group, Inc. (NYSE: AIG) ("AIG"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AIG as the Company's latest news hit the wire. On June 20, 2018, the Company announced that the UK subsidiary of AIG Life & Retirement, AIG Life Ltd ("AIGLL"), has inked a deal to acquire Ellipse, which is a specialist provider of group life risk protection in the UK, from Munich Re. The financial terms of the deal remained undisclosed. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Acquisition Likely to Close in Q1 2019

The Company will fund the transaction with cash on hand. The acquisition, which is likely to close in Q1 2019, is subject to required regulatory approvals. Ellipse's group protection capabilities, which include life, critical illness, and income protection products, along with its technology-enabled business model, will position AIGLL to efficiently manage group risk schemes for companies of all sizes.

Since its launch in 2009, Ellipse has grown to become the 6th largest UK group life provider based on 2017 new business volumes. Ellipse has reached an 8% share of new business premiums and a 4% share of in-force premiums in 2017.

Ellipse Brings a Strong Team with a Scalable Business Platform to AIG's Well-Positioned UK Life Business

Commenting on the announcement, Kevin Hogan, Executive Vice President and Chief Executive Officer (CEO) of AIG Life & Retirement, stated that the acquisition of Ellipse reflects the Company's disciplined approach to selectively expanding its existing Life and Retirement businesses while pursuing opportunistic growth. Hogan added that Ellipse brings a strong team with a scalable business platform to AIG's well-positioned, technology-driven UK life business.

Ellipse's Group Life Business is Highly Complementary to AIG's Existing UK Individual Protection Offering

Adam Winslow, CEO of AIGLL, stated that Ellipse's group life business is highly complementary to AIG's existing UK Individual Protection offering. It positions the Company to capitalize on the strong growth potential in the UK group market by allowing it to provide a holistic suite of innovative protection products that better serve the clients and partners. Winslow added that AIGLL is excited to start working side by side with Ellipse colleagues, who share a similar culture and entrepreneurial spirit, a mono-line protection focus, and a recognized technology leadership.

AIG's Last Acquisition Deal

On January 22, 2018, AIG entered into a definitive agreement to acquire all of the outstanding common shares of Validus Holdings, Ltd, which is a leading provider of reinsurance, primary insurance, and asset management services. The transaction enhanced AIG's General Insurance business, adding a leading reinsurance platform, an insurance-linked securities asset manager, a meaningful presence at Lloyd's, and complementary capabilities in the US crop and excess and surplus (E&S) markets. Holders of Validus common shares received a cash consideration of $68.00 per share, for an aggregate transaction value of $5.56 billion, funded by cash on hand.

About Munich Re

Based in Munich, Bavaria, Munich Re is one of the world's leading risk carriers and stands for exceptional solution-based expertise, consistent risk management, financial stability, and client proximity. The Group operates in all lines of insurance, with around 45,000 employees throughout the world and combines primary insurance and reinsurance under one roof.

About American International Group, Inc.

Founded in 1919 and headquartered in New York City, New York, AIG is a leading insurance firm serving commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. Additionally, AIG Companies are leading providers of life insurance and retirement services in the United States.

Stock Performance Snapshot

June 21, 2018 - At Thursday's closing bell, American International Group's stock fell 1.74%, ending the trading session at $54.25.

Volume traded for the day: 4.54 million shares.

After yesterday's close, American International Group's market cap was at $49.26 billion.

Price to Earnings (P/E) ratio was at 162.91.

The stock has a dividend yield of 2.36%.

The stock is part of the Financial sector, categorized under the Property & Casualty Insurance industry.

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