Zurich Insurance Announces $600M Acquisition Of AIG's Global Personal Travel Insurance Business To Bolster US Presence
Portfolio Pulse from Benzinga Neuro
Zurich Insurance announced a $600 million acquisition of AIG's global personal travel insurance business to expand its U.S. presence. The deal is expected to close by the end of 2024 and will integrate AIG's business with Zurich's Cover-More Group, projecting combined annual gross written premiums of $2 billion.
June 26, 2024 | 7:23 am
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AIG is selling its global personal travel insurance business to Zurich Insurance for $600 million, as part of its strategy to streamline operations and focus on core businesses.
The sale aligns with AIG's strategy to streamline operations and focus on core businesses, which could be positively received by investors. The stock showed a slight increase in after-hours trading.
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