AIG agrees to acquire U.K. life protection carrier

|By:, SA News Editor

AIG agrees to the purchase of Ageas Protect from Belgium-based Ageas Group for about $305M. The deal is set to close in Q4.

Ageas Protect offers term life, critical illness, and income protection coverage to U.K. consumers. It's been around since 2008 and a 4.8% share of new protection business in that country, producing premiums of £91.8M in 2013.