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- American International Group (NYSE:AIG) has agreed to sell its global travel insurance and assistance business to Zurich Insurance Group (OTCQX:ZURVY) for $600 million, including the Travel Guard business and its servicing capabilities, excluding Japan and our AIG joint venture arrangement in India.
- The total consideration will be paid in cash plus additional earn-out.
- The company said that the travel coverages offered through AIG’s Accident & Health business is also excluded from this agreement.
- The sale is expected to close by the end of 2024.