“This transaction is a great strategic fit, which enhances Zurich’s existing capabilities and makes us a leading travel insurance provider across all regions,” said Cara Morton, CEO of Zurich Global Ventures, which includes the travel insurance business.
Zurich To Acquire AIG Travel : Technological and Operational Enhancements
The deal will see Zurich acquiring the IT platform used by AIG’s travel business, bolstering Zurich’s app functionalities. Furthermore, Zurich will take over AIG’s global service centers, enhancing its service capabilities.
Regulatory Approvals and Closing Timeline
While the companies have stated that the deal is subject to regulatory approvals, they did not specify which authorities would be involved. They anticipate the transaction will close before December.
