AIG Acquires Controlling Stake in ING Employee Benefits Global Network

American International Group Inc. 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, AIG said, noting that these 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.”

Source: American International Group

Topics Mergers & Acquisitions AIG