The Los Angeles Post
U.S. World Business Lifestyle
Today: March 16, 2025
Today: March 16, 2025

Zurich Insurance buys AIG travel business in $600 million deal

The AIG logo is seen at its building in New York's financial district
June 26, 2024
John Revill - Reuters

By John Revill

ZURICH (Reuters) -Zurich Insurance on Wednesday announced a $600 million deal to buy AIG's global personal travel insurance and assistance business.

The business will be combined with Zurich's travel insurance provider Cover-More Group (Cover-More) and will expand its footprint in the United States, Zurich said.

The acquisition, which is expected to close before the end of 2024, will result in combined annual gross written premiums of approximately $2 billion for the enlarged Cover-More Group.

"Travel insurance is a priority for us," said Cara Morton, CEO Zurich Global Ventures.

"This transaction is a great strategic fit, which enhances Zurich's existing capabilities and makes us a leading travel insurance provider across all regions," she added.

(Editing by Ludwig Burger)

Related

Business|Economy|Finance|MidEast|Political

US weighing in on Lebanon's next central bank chief, sources say

Asia|Business|Science|Technology

China's Baidu launches two new AI models as industry competition heats up

Business|Crime|Technology|US

Cybersecurity officials warn against potentially costly Medusa ransomware attacks

Business|Crime|Europe|Technology|World

Telegram's Durov allowed to leave France amid probe, AFP reports

Local

Lifestyle|Local

Holi celebrations in Los Angeles this weekend

Local|Lifestyle|News|WrittenByLAPost

Los Angeles Marathon to take place Sunday

Local|News

California allocates $300M for enhanced local road safety measures

Local|News

Rain expected to hit Southern California by Tuesday

Share This

Popular

Business|Economy|Finance|MidEast|Political

US weighing in on Lebanon's next central bank chief, sources say

US weighing in on Lebanon's next central bank chief, sources say
Asia|Business|Science|Technology

China's Baidu launches two new AI models as industry competition heats up

China's Baidu launches two new AI models as industry competition heats up
Business|Crime|Technology|US

Cybersecurity officials warn against potentially costly Medusa ransomware attacks

Cybersecurity officials warn against potentially costly Medusa ransomware attacks
Business|Crime|Europe|Technology|World

Telegram's Durov allowed to leave France amid probe, AFP reports

Telegram's Durov allowed to leave France amid probe, AFP reports

Local

Local|Americas|Lifestyle|News|Political|WrittenByLAPost

Women’s March plans International Women’s Day protest in DTLA

Women’s March plans International Women’s Day protest in DTLA
Local|News

California's strategy: Utilizing state properties for affordable housing

California's strategy: Utilizing state properties for affordable housing
Crime|Local|News|US

Redondo Beach offers $10,000 reward for biker who allegedly shot at police officers

Redondo Beach offers $10,000 reward for biker who allegedly shot at police officers
US|Election|Local|Political

Republican Strickland declares victory in State Senate race, vows to 'DOGE government'

Republican Strickland declares victory in State Senate race, vows to 'DOGE government'

Access this article for free.

Already have an account? Sign In