Zurich buys AIG travel insurance for $600m

This positions Zurich as one of the world’s largest travel insurers.

Zurich Insurance Group acquired AIG’s global personal travel insurance and assistance business, including the Travel Guard brand, for $600m, with an additional potential earn-out payment. 

The acquisition positions Zurich as one of the world’s largest travel insurers.  

Travel Guard will be integrated into Zurich’s travel insurance provider, Cover-More Group, under a new corporate brand, Zurich Cover-More. 

The combined entity will retain subsidiaries such as Travelex Insurance, Cover-More Travel Insurance, World Travel Protection, Blue Insurance, and Universal Assistance, which will continue operating under their existing names in local markets.  

Zurich Cover-More’s headquarters will be based in the US, led by CEO David Fike, with regional operations in Latin America, North America, Asia Pacific, and Europe, the Middle East, and Africa (EMEA).