AIG acquisition of Laya to cost in region of €80m

International insurance giant AIG has confirmed its continued investment in the Irish market via the acquisition of the country’s second largest health insurer, Laya Healthcare.

The deal had been mooted, but confirmation of AIG’s 100% takeover of the Little Island-headquartered company, which grew out of a management buyout of Quinn Insurance four years ago, was only made yesterday. The deal remains reliant on regulatory approval.

While a transaction figure has not been disclosed, it has been widely speculated that the deal is costing AIG around €80m.