American International Group Inc. (AIG) announced that a wholly-owned subsidiary company is acquiring Travel Guard International, a national provider of travel insurance programs and emergency travel assistance, from the Noel Group of Stevens Point, Wisc. Financial terms of the acquisition were not disclosed.
Travel Guard International covers more than six million travelers worldwide each year. As part of the transaction, AIG will also acquire Mercury International, Travel Guard Americas and the Travel Guard Canada brands from the Noel Group.
“The acquisition of Travel Guard International provides significant enhancement to AIG’s existing travel insurance business around the world by adding full service marketing, customer service, claims and assistance expertise to our existing underwriting capabilities,” said Anthony Galioto, president of the Worldwide Accident and Health Division of the AIG Companies. “We expect this acquisition will help broaden opportunities for AIG in the travel insurance business.”
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