’The transaction makes Zurich one of the largest travel insurers globally,’ says insurer
Insurer Zurich has completed its acquisition of AIG’s personal travel insurance and assistance business.
The $600m (£473m) deal, which will bring AIG’s Travel Guard business to Zurich, will see the Swiss insurer serve more than 20 million customers and 200 distribution partners globally.
Travel Guard will be combined with Zurich’s travel insurance provider, Cover-More Group, under the new corporate brand Zurich Cover-More.
“The transaction makes Zurich one of the largest travel insurers globally,” the insurer said.
Cara Morton, chief executive at Zurich Global Ventures, added: “This acquisition significantly boosts our travel insurance capabilities and amplifies our global footprint.
“By welcoming Travel Guard into Zurich Cover-More, we aim to deliver unmatched services and protection to our customers worldwide that go beyond traditional travel insurance and assistance.”
The sale excludes operations in Japan, AIG’s joint venture arrangement in India and travel coverages offered through AIG’s group accident and health business.
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His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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