Zurich Insurance to acquire AIG's travel insurance and assistance business

Tweet

Zurich InsuranceZurich Insurance has signed a definitive agreement with American International Group (AIG) to acquire its personal travel insurance and assistance business.

The transaction is valued at 600 million USD, with a possible earn-out payment.

The acquisition includes the entire Travel Guard portfolio (excluding Japan and India). Travel coverage provided by AIG's Accident & Health business is not part of the agreement.

The acquired activities will be combined with those of Cover-More Group, an Australian provider of travel insurance solutions and a member of Zurich Insurance.

Pending regulatory approval, the transaction is expected to be finalized by the end of 2024.

Read also | Zurich Insurance acquires 70% of Kotak Mahindra General Insurance

0
Your rating: None
Thu, 27/06/2024 - 11:46
© 2024 Groupe Atlas
Advertising Program          Terms of Service          Copyright          Useful links          Social networks          Credits