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.
“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.”