Zurich Insurance has announced a $600 million deal to acquire AIG’s global personal travel insurance and assistance business. The acquisition is anticipated to close before the end of 2024 and will be integrated with Zurich’s existing travel insurance provider, Cover-More Group. The combined organization will achieve annual gross written premiums of roughly $2 billion. Cara Morton, CEO of Zurich Global Ventures, stated that this move solidifies Zurich’s position as a leading travel insurance provider and enhances its capabilities across all regions. This transaction marks a significant strategic expansion for Zurich in the travel insurance sector.

Insurance, Travel and Tourism,United States, Global