Zurich buys AIG travel insurance

BTN News
Friday, 28 June 2024

Zurich Insurance Group has signed to acquire AIG’s global personal travel insurance/assistance business (aka AIG Travel) for US$600 million (plus a potential additional earn-out payment). 


It will be combined with Zurich’s Cover-More. 

Zurich called the transaction "a great strategic fit that makes us a leading travel insurance provider across all regions. The acquisition expands our retail customer base and aligns with our ambition to continuously enhance our offerings, while providing world-class protection during every step of our customers’ travels".

As part of the acquisition, Zurich will add AIG Travel’s well-established Travel Guard brand to its Cover-More global multi-brand model to expand Cover-More’s presence in the US. 

The acquisition is expected to deliver combined annual gross written premiums of approximately US$2 billion for the Cover-More group.

Zurich buys AIG travel insurance

BTN News
Friday, 28 June 2024

Zurich Insurance Group has signed to acquire AIG’s global personal travel insurance/assistance business (aka AIG Travel) for US$600 million (plus a potential additional earn-out payment). 


It will be combined with Zurich’s Cover-More. 

Zurich called the transaction "a great strategic fit that makes us a leading travel insurance provider across all regions. The acquisition expands our retail customer base and aligns with our ambition to continuously enhance our offerings, while providing world-class protection during every step of our customers’ travels".

As part of the acquisition, Zurich will add AIG Travel’s well-established Travel Guard brand to its Cover-More global multi-brand model to expand Cover-More’s presence in the US. 

The acquisition is expected to deliver combined annual gross written premiums of approximately US$2 billion for the Cover-More group.