ZURVY - Zurich Insurance Announces $600M Acquisition Of AIG's Global Personal Travel Insurance Business To Bolster US Presence | Benzinga
In a strategic move to bolster its travel insurance arm, Zurich Insurance (OTC:ZURVY) announced a $600 million deal to acquire the global personal travel insurance and assistance business of American International Group Inc. (NYSE:AIG).
What Happened: The acquisition, which is expected to be finalized by the end of 2024, will see the AIG business integrated with Zurich’s travel insurance provider, Cover-More Group, expanding Zurich’s presence in the U.S., the company said in a press release on Wednesday.
Following the acquisition, the combined annual gross written premiums for the expanded Cover-More Group are projected to be around $2 billion.
CEO of Zurich ...