On the hunt for enhanced
operational efficiency, American International Group (AIG) is to
create a new group benefits operation in the US through the merger
of the group benefits units of its core US life business, American
General Life Companies (American General), and its general
insurance business, Chartis US Accident and Health.
The combined operation is to
be named AIG Benefit Solutions.
Go deeper with GlobalData
According to AIG, AIG Benefit
Solutions will offer about 24 insurance products and programmes,
many available on both employer-funded and voluntary, employee-paid
platforms, as well as underwriting, enrolment and plan
administration.
Commenting on the merger,
president and CEO of AIG Benefit Solutions Curtis W Olson said in a
statement: “Through this joint venture, we will not only create a
new and stronger benefits division, we are positioned to become a
major player in the benefits market.”
Products and services will be
offered through two business segments: US Employee Benefits, which
will offer group and individual employee benefits, and US Affinity
Benefits, which will offer products and services to affinity
groups.
Affinity groups span a wide
range of organisations such as religious groups, alumni groups and
unions which club together to obtain cheaper insurance cover for
the members.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
