Home Fairfield Affinion Group sells insurance division

Affinion Group sells insurance division

SHARE

Stamford-based Affinion Group LLC has announced the sale of its insurance division, Affinion Insurance Solutions (AIS), to an affiliate of the New York City-based private equity group Mill Point Capital.

AIS provides marketing and insurance administration services to 3,000 financial institutions and 19 million insureds. The company’s product line includes Accidental Death and Dismemberment, Simplified Issue Term Life, Graded Whole Life, Hospital Accident Plan, and Recuperative Care Plans. According to the companies, the sale is expected to close sometime in the third quarter of this year. The financial terms of the sale were not publicly disclosed.

“We are pleased to have reached an agreement with Mill Point Capital for the sale of our insurance business,” stated Todd Siegel, CEO of Affinion Group. “While this business has been a meaningful contributor to Affinion Group’s results, the sale is the next step in becoming a pure-play loyalty solutions company and focusing on our growing loyalty and customer-engagement solutions.”

Print Friendly, PDF & Email
Previous articleHH Monroe Auto becomes U-Haul dealer
Next articlePurdue Pharma pulls plug on marketing opioids in Canada
Phil Hall's writing for Westfair Communications has earned multiple awards from the Connecticut Press Club and the Connecticut Society of Professional Journalists. He is a former United Nations-based reporter for Fairchild Broadcast News and the author of 10 books (including the 2020 release "Moby Dick: The Radio Play" and the upcoming "Jesus Christ Movie Star," both published by BearManor Media). He is also the host of the SoundCloud podcast "The Online Movie Show," co-host of the WAPJ-FM talk show "Nutmeg Chatter" and a writer with credits in The New York Times, New York Daily News, Hartford Courant, Wired, The Hill's Congress Blog, Profit Confidential, The MReport and StockNews.com. Outside of journalism, he is also a horror movie actor - usually playing the creepy villain who gets badly killed at the end of each film.

LEAVE A REPLY

Please enter your comment!
Please enter your name here