AIG buys Irish health insurer
American International Group (AIG) has agreed to acquire Laya Healthcare, Ireland’s second largest health insurance provider.
Operating in Ireland since 1997, Laya Healthcare has nearly 500,000 customers. It employs 450 people, principally in Cork, and serves more than 23 percent of the Irish private health market. The company also offers life, dental, and travel insurance, as well as health and wellness coverage.
Laya Healthcare will become part of AIG’s Health business, which is focused on offering creative solutions to AIG’s customers and partners in a rapidly changing global healthcare environment.
“Laya Healthcare’s experienced management team and its success focusing on consumers in the healthcare space strengthen our commitment to selectively expanding healthcare solutions,” said Kevin Hogan, AIG’s chief executive officer of consumer insurance. “So much of what we are devoted to in consumer insurance centers on meeting the needs of our customers in the markets we serve, and that includes our innovative health coverage offerings.”
Jay Sheehy, global head of AIG’s health business, said: “The acquisition of Laya Healthcare is an opportunity to work with business leaders who know how to achieve value and growth in a highly regulated healthcare market. Building on Laya Healthcare’s success serving customers in Ireland is an important step in expanding AIG’s health and consumer strategies.”
