Thursday February 20, 2020

AIB sells Ark Life to Britain's Guardian Assurance

AIB has sold its Ark Life subsidiary to British life assurance, pension and annuity provider Guardian Assurance, according to a report.

24th December, 2013
AIB has sold its Ark Life subsidiary.

AIB has sold its Ark Life subsidiary to British life assurance, pension and annuity provider Guardian Assurance, according to a report.

Although the acquisition price has not been disclosed, The Irish Times report quoted market sources as saying it was about €350 million.

Guardian said in a statement that Ark Life, which manages assets of €4 billion and has 270,000 policies, was a “strategically important acquisition” and would provide a “platform for further M&A growth”...

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