AIG Divests Travel Guard to Zurich Insurance in $600M Deal
Portfolio Pulse from Benzinga Newsdesk
AIG has agreed to sell its global individual personal travel insurance and assistance business, Travel Guard, to Zurich Insurance Group for $600 million in cash plus additional earn-out consideration. The sale excludes AIG's Accident & Health business and is expected to close by the end of 2024, pending regulatory approvals.
June 26, 2024 | 7:00 am
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AIG is selling its Travel Guard business to Zurich Insurance for $600 million, excluding its Accident & Health business. The deal is expected to close by the end of 2024, subject to regulatory approvals.
The divestiture aligns with AIG's strategic positioning and could positively impact its financials by focusing on core operations. The deal's completion is subject to regulatory approvals, which adds some uncertainty.
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