Affinion Group Completes Sale of Insurance Division to Mill Point Capital
STAMFORD, CT — Affinion Group, LLC, a subsidiary of Affinion Group Holdings, Inc. (together with its consolidated subsidiaries, “Affinion Group”), announced that it has closed the previously announced sale of its insurance division, Affinion Insurance Solutions, to an affiliate of Mill Point Capital.
“The successful completion of the sale of our insurance business to Mill Point Capital allows us to focus on our core business of providing leading loyalty and engagement solutions to our clients and their customers and to pay down debt,” said Todd Siegel, CEO of Affinion Group. “Not only does the sale mark our next step in becoming a pure-play loyalty solutions company, but it also provides us with greater financial flexibility.”
As a result of the sale, Affinion Group will operate as a pure-play loyalty solutions company that uses leading technology and data-driven analytics to design, administer and fulfill loyalty and engagement programs that strengthen and enhance relationships for its clients around the globe.