AIG Completes Sale of Travel Guard Business to Zurich

AIG has announced the completion of the sale of its global personal travel insurance and assistance business, including the well-known Travel Guard brand, to Zurich Insurance Group.

The strategic divestment marks a significant step for AIG as it continues to refine its global portfolio. The sale encompasses AIG’s travel insurance and assistance operations worldwide, excluding its businesses in Japan and India, as well as travel coverages offered under its Group Accident & Health business.

AIG was advised on the transaction by Evercore, with legal counsel provided by Willkie Farr & Gallagher and Norton Rose Fulbright. This divestiture allows AIG to further concentrate on its core insurance and reinsurance businesses.

The news follows on from the news that AIG has successfully completed the sale of a 21.6% equity stake in Corebridge Financial to Nippon Life Insurance. The transaction, valued at $3.8 billion, involved the sale of approximately 120 million shares at a price of $31.47 per share. The strategic move strengthens Nippon Life’s existing investment in Corebridge.

Share this article:

APPLY TO SPONSOR

Gain access to the most senior audience of insurance executives, entrepreneurs, and investors. We offer a wide range of opportunities for you to engage with our attendees from networking to thought leadership.

Sponsorship packages provide a wide range of opportunities developed for almost any budget and are designed to help achieve your branding, networking, and/or thought leadership goals.

Don’t Stop Here

CONTINUE READING

Olé Life Raises US$13 Million in Series B Funding Led by PayPal Ventures

January 17, 2025 2:01 pm

People Moves: Industry Appointment Round-Up

January 17, 2025 1:36 pm

Zurich North America Restructures, Creating New Specialties Business Unit

January 17, 2025 12:31 pm

WDF Launches Insured High-Integrity Carbon Credits Backed by AXA

January 17, 2025 10:12 am

GBSAPRI Group Expands with Strategic Investments in Italy and Switzerland

January 16, 2025 2:18 pm

Africa Specialty Risks Launches First African-Focused Lloyd’s Syndicate in Mauritius

January 16, 2025 11:17 am

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.

Necessary

Always Enabled

Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.

Cookie	Duration	Description
cookielawinfo-checkbox-analytics	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional	11 months	The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance	11 months	This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy	11 months	The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.