American International Group has purchased a controlling interest in Belgium-based ING Employee Benefits Global Network.
Terms of the deal have not been disclosed.
The acquired business has been renamed as AIG Global Benefits Network, in which Netherlands-based Nationale-Nederlanden and France’s Malakoff Mederic are minority shareholders.
AIG Benefit Solutions president and CEO Curt Olson said: "As global business thrives, employee benefits are an increasingly important consideration for multinational companies competing for the best employees.
"Our ability to offer benefit plan solutions through this network creates additional opportunities for AIG to support our multinational clients."
The network offers administrative and marketing services to insurance companies that provide benefit solutions to multinational employers.
The combined business, which includes insurance carriers from around the world, provides benefit solutions in more than 100 countries.
AIG Global Benefits Network will help multinational firms to enhance their efficiency to access and manage employee benefits across the globe.
In addition, the network will develop global benefit plan solutions for multinational clients by tapping the coverage options provided by carriers throughout the network.
AIG noted that the network will allow its US benefit division, AIG Benefit Solutions, to provide improved employee benefit plan solutions to clients seeking multi-country coverage.
Image: AIG headquarters on 175 Water Street New York City. Photo: courtesy of AIG.