Europ Assistance acquires 100% of Gallagher's Trip Mate
Generali Global Assistance, a division of the Europ Assistance Group, has acquired a 100 percent stake in travel insurance managing general agent (MGA) Trip Mate from Arthur J Gallagher.
US-based Trip Mate is a managing general agent, operating as intermediary between insureds and market place.
Europ Assistance operates in the US through its subsidiary Generali Global Assistance. It provides travel insurance and assistance, automotive assistance and personal assistance services such as senior care, cyber security, telemedicine and a conciergerie business.
“Thanks to this acquisition, we will benefit from greater distribution channels and enhanced expertise for new market segments and products, which will significantly expand our travel insurance portfolio, aiding the strong performance we already see in our US business," said Jean-Laurent Granier, Generali country manager for France and chairman of Europ Assistance Group.
Antoine Parisi, Europ Assistance Group CEO, added: “This acquisition confirms our position as a top three leader in US travel insurance and reflects our status as a global leader in this sector. We’re delighted to strengthen our already successful business in the US and ambitious to support the Trip Mate customers and partners who are seeking to expand internationally. This acquisition will also offer clear benefits for the Trip Mate partners and customers, providing a global platform for those looking to expand internationally.”
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