The country's second largest health insurance provider, Laya Healthcare, has confirmed the sale of 100% of its shares to international insurance organisation AIG.

The agreement was signed today. However the completion of the transaction will take place subject to regulatory approval.

Laya Healthcare will continue to operate in Cork and will be part of AIG’s Global Healthcare business.

AIG says it plans to use the deal to accelerate growth in its health insurance business in other markets outside Ireland.

Our Business Editor Ian Guider says customers are being assured it is business as usual when it comes to their day-to-day dealings with Laya:

Originally posted at 7.40am