AIG Agrees to Acquire Leading UK Life Protection Carrier Ageas Protect from Ageas Group

  AIG Agrees to Acquire Leading UK Life Protection Carrier Ageas Protect from
  Ageas Group

Business Wire

NEW YORK -- August 6, 2014

American International Group, Inc. (NYSE:AIG) today announced that it has
agreed to acquire Ageas Protect Limited from Ageas Group, the Belgium-based
international insurer. Total transaction consideration is £181 million
(approximately USD $305 million), subject to closing adjustments. The
transaction is expected to close in the fourth quarter of 2014, pending
regulatory approval.

Ageas Protect is a leading provider of life protection products in the UK,
offering term life, critical illness, and income protection coverage to
consumers. It was launched in July 2008 and today has a 4.8% share of new
protection business across the UK market, and an 8.4% share of the important
UK Independent Financial Advisor (“IFA”) channel. The company produced
premiums of £91.8 million in 2013, employs approximately 220 people in the UK,
and has over 300,000 customers in the UK, Channel Islands, and Isle of Man.

“UK life protection is an attractive market for AIG,” said Kevin Hogan, Chief
Executive Officer of Global Consumer Insurance, AIG. “We are excited about the
prospect of enhancing AIG’s significant presence and existing insurance
offerings in the UK, and we are committed to the management team, employees,
and distributors who have made Ageas Protect the strong company it is today.”

Ageas Protect will become part of AIG’s Global Consumer business, which in the
UK offers personal accident, health, and travel insurance coverage to
consumers, as well as customized insurance solutions for high net worth
individuals through AIG Private Client Group.

American International Group, Inc. (AIG) is a leading international insurance
organization serving customers in more than 130 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.

Additional information about AIG can be found at www.aig.com | YouTube:
www.youtube.com/aig |Twitter: @AIGInsurance | LinkedIn:
http://www.linkedin.com/company/aig |

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.

Contact:

AIG
Investors:
Liz Werner, 212-770-7074
elizabeth.werner@aig.com
or
Media:
Matt Gallagher, 212-458-3247
matthew.gallagher2@aig.com
or
Media, UK:
Marie Ali, +44-207-651-6396
marie.ali@aig.com
 
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