Zurich Insurance Group has united to take AIG’s orbicular individualized movement shelter and resource playing for $600m.
The care module consortium AIG Travel with Zurich’s Cover-More movement shelter bourgeois and modify the concern in the US. It also gives metropolis admittance to a newborn retail client humble and boosts its print crossways the globe.
Furthermore, metropolis module add AIG Travel’s Travel Guard sort to its Cover-More multi-brand help to reenforce Cover-More in the US.
In addition, metropolis module acquire AIG Travel’s orbicular assist centres as conception of the acquisition.
Cara Morton, CEO metropolis Global Ventures, said: “Travel shelter is a antecedency for us. This dealings is a enthusiastic strategic fit, which enhances Zurich’s existing capabilities and makes us a directive movement shelter bourgeois crossways every regions. The acquisition expands our retail client humble and aligns with our desire to continuously compound our offerings, patch providing world-class endorsement during every movement of our customers’ travels.”
Zurich Insurance Company has also completed the acquire of a 70% wager in India’s Kotak Mahindra General Insurance Company (Kotak General Insurance) for Rs55.6bn ($670m).
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The deal, first announced in Nov 2023, has conventional every the needed restrictive clearances.
Zurich bought the wager in Kotak General Insurance finished a intermixture of firm ontogeny top and care purchase.
This care is touted as the maximal external assets in India’s generalized shelter facet since the 2021 process in the external candid assets (FDI) bounds to 74%.
As conception of the deal, the playing module be rebranded representing metropolis and Kotak Mahindra Bank as partners.
Source unification
Zurich to acquire AIG’s orbicular individualized movement shelter playing #Zurich #purchase #AIGs #global #personal #travel #insurance #business
Source unification Google News
Source Link: https://www.lifeinsuranceinternational.com/news/zurich-to-purchase-aigs-global-personal-travel-insurance-business/
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