US insurer AIG and its Cork-based subsidiary Laya Healthcare are to merge their media buying by appointing one agency. The account is currently up for review with the two incumbents, AIG’s OMD and Laya’s Carat, being joined in presentations by Mindshare. The pitches are managed by Pt78, the agency run by Vivien McCutcheon and Sarah Probert.
A decision on the review is expected by May, Covid-19 delays not withstanding.
AIG acquired Laya, which stands for ‘Looking After You Always’, five years ago in a €80 million deal. Laya had grown out of an MBO of Quinn Insurance in 2011 with underwriting by Swiss Re. It had 500,000 members on its books. AIG is a well-known brand in sports sponsorship, including its shirt deals with New Zealand rugby and Dublin GAA football and hurling.
AIG operates in 130 countries with an estimated 80 million customers.
