The Irish insurance market is set for another major shake up with breaking news this morning that AIG is to buy Laya Healthcare.
Declan O’Rourke, General Manager, AIG Ireland said: “We are delighted that Dónal (Clancy) and his team have joined AIG’s Global Health team. AIG has a proven track record built up over 40 years in Ireland. AIG already has significant domestic, EMEA and global operations in insurance, asset management and IT based in Ireland. We feel both AIG and Laya Healthcare’s customers will benefit from each other’s strengths, expertise and complementary product offerings.”
It is believed that Laya, previously the Quinn Insurance Health arm, will provide AIG with a platform to expand its health insurance in international markets. It currently offers little in this area outside of the US and Asia.
Laya has previously maintained a low profile in sports sponsorship compared to its main rivals in the health sector. Aviva, apart from the Stadium bearing its name, is involved across a range of sports while GloHealth last year entered into a substantial deal with Athletics Ireland.
There is a natural fit and AIG’s long standing commitment to sport via the All Blacks, Man United and Dublin GAA here would suggest that the deal may be good news for sport.
In October AIG added a €35,000 commitment to safety in rugby to its existing deals in golf and Gaelic Games.
Other insurance brands including Liberty Insurance, Allianz, Aon and Chill Insurance have dominated major new sports sponsorship deals over recent years in gaelic games, rugby and Paralympic Sport.
Join us tomorrow when we will have an exclusive interview with John Gillick, AIG’s Sponsorship Manager on the brands plans for Dublin GAA over the next 12 months.
Image credit: Inpho.ie
