In a reversal of strategy, AIG in mid-June 2020 announced it had decided to wind down its AIG Global Benefits Network (AIG GBN) multinational pooling network. According to the company, “AIG has realigned its strategy with regard to AIG’s Global Benefits Network business and as a consequence, [it] has decided to wind down its activities.”
All existing pools will be cancelled effective December 31, 2020. AIG pooling clients now must consider an arrangement with one (or more) of the seven remaining global networks.
AIG GBN has local insurance carriers in common with other networks in several countries:
- Argentina – Insurope
- Belgium – Zurich GEBS
- Canada – IGP
- China – Swiss Life
- France – IGP
- Germany – IGP
- Ireland – Insurope
- The Netherlands – Insurope
AIG had purchased AIG GBN from ING and Malakoff-Mederic in two steps: a controlling stake in mid-2015 [1] and full ownership in late 2017 [2]. Until 2015, the network operated under the ING brand, and much earlier had been founded as MIA.
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