AIG Acquires Controlling Stake in ING Employee Benefits Global Network; Renames to AIG Global Benefits Network
American International Group, Inc. (NYSE:AIG) announced today that it has acquired a controlling stake in ING Employee Benefits Global Network and renamed it AIG Global Benefits Network. The network is based in Belgium.
The network’s minority shareholders are Nationale-Nederlanden in the Netherlands and France’s Malakoff Mederic. Terms of the deal were not disclosed.
The network provides administrative and marketing services to insurance companies offering benefit solutions to multinational employers. The administrative capability of AIG Global Benefits Network offers multinational companies an efficient way to access and manage employee benefits globally.
Insurance carriers from around the world are members of the network, providing benefit solutions in individual or multiple countries. Combined, the carriers offer benefit solutions in more than 100 countries. AIG Global Benefits Network can develop global benefit plan solutions for multinational clients by tapping the coverage options offered by carriers throughout the network.
AIG’s stake in the network and its role as U.S. network partner allows its U.S. benefit division, AIG Benefit Solutions, to offer enhanced employee benefit plan solutions to clients seeking multi-country coverage.
This investment furthers AIG’s commitment to providing the highest level of services and solutions to multinational companies and to meeting the broad insurance needs of consumers in markets around the globe.
“As global business thrives, employee benefits are an increasingly important consideration for multinational companies competing for the best employees,” said Curt Olson, President and CEO, AIG Benefit Solutions. “Our ability to offer benefit plan solutions through this network creates additional opportunities for AIG to support our multinational clients.”
American International Group, Inc. (AIG) is a leading global insurance organization serving customers in more than 100 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange.
AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries, and coverage is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property-casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
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