Swiss insurance giant Zurich has acquired AIG’s global personal travel insurance and assistance business – instantly making Zurich one of the largest travel insurers in the world.
The $600m acquisition covers all of AIG’s global travel insurance business including its Travel Guard brand. Zurich will now serve more than 20 million travel insurance customers and 200 distribution partners around the world.
AIG’s former global personal travel insurance and assistance business will now combine with the Zurich-owned travel insurer Cover More Group and will operate as Zurich Cover More and relocate its head office to the US.
According to Zurich Global Ventures CEO, Cara Morton: “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.”
