American International Group, Inc. (AIG) has completed the sale of its global personal travel insurance and assistance business, including the Travel Guard® brand, to Zurich Insurance Group. The transaction was finalized on December 2, 2024, following the signing of the definitive agreement in June.
Key Details of the Sale
- Exclusions: The deal does not include AIG’s operations in Japan, its joint venture arrangement in India, or travel coverages provided through its Group Accident & Health business.
- Advisors: Evercore Group L.L.C. acted as AIG’s financial advisor, while Willkie Farr & Gallagher LLP and Norton Rose Fulbright LLP provided legal counsel.
About Travel Guard®
Travel Guard®, a well-known personal travel insurance and assistance brand, has been a part of AIG’s portfolio for years, offering comprehensive coverage and assistance services to travelers worldwide. The sale aligns with AIG’s strategic focus on other core insurance operations.
About AIG
American International Group, Inc. (NYSE: AIG) is a leading global insurance organization providing solutions in approximately 190 countries and jurisdictions. AIG specializes in helping businesses and individuals protect assets and manage risks.
For more details about AIG and its products, visit www.aig.com.
This transaction marks a significant shift in AIG’s portfolio, as Zurich Insurance Group expands its reach in the personal travel insurance market.