AIG Closes Sale of its Global Personal Travel Insurance and Assistance Business including Travel Guard® to Zurich
AIG has completed the sale of its global individual personal travel insurance and assistance business, including Travel Guard, to Zurich Insurance Group on December 2, 2024. The transaction, which was initially announced in June 2024, excludes operations in Japan, AIG's joint venture in India, and travel coverages offered through AIG's Group Accident & Health business. Evercore Group served as financial advisor, while Willkie Farr & Gallagher and Norton Rose Fulbright provided legal counsel for AIG.
AIG ha completato la vendita della sua attività globale di assicurazione e assistenza per i viaggi personali, inclusi Travel Guard, a Zurich Insurance Group il 2 dicembre 2024. L'operazione, inizialmente annunciata a giugno 2024, esclude le operazioni in Giappone, la joint venture di AIG in India e le coperture viaggio offerte attraverso il business di Accident & Health di AIG. Evercore Group ha svolto il ruolo di consulente finanziario, mentre Willkie Farr & Gallagher e Norton Rose Fulbright hanno fornito assistenza legale per AIG.
AIG ha completado la venta de su negocio global de seguros de viaje personal y asistencia, incluyendo Travel Guard, al Zurich Insurance Group el 2 de diciembre de 2024. La transacción, que fue anunciada inicialmente en junio de 2024, excluye las operaciones en Japón, la empresa conjunta de AIG en India y las coberturas de viaje ofrecidas a través del negocio de Accident & Health de AIG. Evercore Group actuó como asesor financiero, mientras que Willkie Farr & Gallagher y Norton Rose Fulbright proporcionaron asesoría legal a AIG.
AIG는 2024년 12월 2일에 여행 가드를 포함한 글로벌 개인 여행 보험 및 지원 사업을 Zurich Insurance Group에 매각 완료했습니다. 2024년 6월에 처음 발표된 이번 거래는 일본의 운영과 AIG의 인도 조인트 벤처, AIG의 그룹 상해 및 건강 사업을 통해 제공되는 여행 보장을 제외합니다. Evercore Group이 재무 자문 역할을 수행했고, Willkie Farr & Gallagher 및 Norton Rose Fulbright가 AIG를 위한 법률 자문을 제공했습니다.
AIG a terminé la vente de son activité mondiale d'assurance et d'assistance voyage individuelle, y compris Travel Guard, au Zurich Insurance Group le 2 décembre 2024. La transaction, qui avait été annoncée initialement en juin 2024, exclut les opérations au Japon, la coentreprise d'AIG en Inde et les couvertures de voyage offertes par le biais de l'activité Accident & Santé d'AIG. Evercore Group a été le conseiller financier, tandis que Willkie Farr & Gallagher et Norton Rose Fulbright ont fourni des conseils juridiques à AIG.
AIG hat am 2. Dezember 2024 den Verkauf seines globalen Geschäfts für individuelle Reiseversicherungen und -hilfsdienste, einschließlich Travel Guard, an Zurich Insurance Group abgeschlossen. Die Transaktion, die erstmals im Juni 2024 angekündigt wurde, schließt die Geschäfte in Japan, AIGs Joint Venture in Indien und Reiseversicherungen, die über AIGs Geschäftsbereich Unfall- und Krankenversicherung angeboten werden, aus. Evercore Group fungierte als Finanzberater, während Willkie Farr & Gallagher sowie Norton Rose Fulbright AIG rechtlich beraten haben.
- Successfully completed strategic divestment of travel insurance business
- Maintains strategic operations in Japan and India joint venture
- Reduction in business portfolio and revenue stream from travel insurance segment
Insights
The sale of AIG's global personal travel insurance business represents a strategic move to streamline operations and focus on core business segments. While the financial terms weren't disclosed, this divestment aligns with AIG's broader strategy of portfolio optimization and capital efficiency. The retention of key markets like Japan and the Indian joint venture, along with the group A&H travel coverage business, indicates a selective approach to maintaining presence in high-growth markets while divesting non-core operations.
The transaction's completion with Zurich Insurance Group, a major player in the global insurance market, suggests a mutually beneficial deal that could enhance both companies' market positions. For AIG, this move could potentially improve operational efficiency and free up capital for reinvestment in strategic growth areas or shareholder returns.
As disclosed upon the signing of the definitive agreement in June 2024, the sale excludes
Evercore Group L.L.C. acted as financial advisor and Willkie Farr & Gallagher LLP and Norton Rose Fulbright LLP acted as legal counsel for AIG.
About AIG
American International Group, Inc. (NYSE: AIG) is a leading global insurance organization. AIG provides insurance solutions that help businesses and individuals in approximately 190 countries and jurisdictions protect their assets and manage risks through AIG operations and network partners. For additional information, visit www.aig.com. This website with additional information about AIG has been provided as a convenience, and the information contained on such website is not incorporated by reference into this press release.
AIG is the marketing name for the worldwide operations of American International Group, Inc. All products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. Products or services may not be available in all countries and jurisdictions, and coverage is subject to underwriting requirements and actual policy language. Non-insurance products and services may be provided by independent third parties. Certain property casualty coverages may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds, and insureds are therefore not protected by such funds.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241202093973/en/
Quentin McMillan (Investors): quentin.mcmillan@aig.com
Claire Talcott (Media): claire.talcott@aig.com
Source: American International Group, Inc.
FAQ
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