Europ Assistance acquires travel insurance provider Trip Mate
05 February 2019 - 14:00
Milan – Europ Assistance, part of Generali Group, announces that it has acquired from Arthur J. Gallagher a 100% stake of Trip Mate, a managing general agent leader in the tour operator travel insurance market in the United States.
The transaction cements the presence of Europ Assistance, which operates in the United States through its subsidiary Generali Global Assistance, among the top three travel insurance providers in the United States, furthering the Group’s position as a leading global travel insurer.
Europ Assistance is a worldwide leader in care and mobility services, employing 7,530 people, operating in 208 countries. Europ Assistance provides travel insurance and assistance, automotive assistance and personal assistance services such as senior care, cyber security, telemedicine and a conciergerie business.
Trip Mate will continue to operate under its current and established brand, maintaining its customer-centric focus on building longstanding partner relationships.
Jean-Laurent Granier, Generali Country Manager for France and Chairman of Europ Assistance Group, said: “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. Trip Mate, with a culture of innovation and customer care fits perfectly with the values shared in our Group.”
Antoine Parisi, Europ Assistance Group CEO, commented: “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.”
Trip Mate, based in Kansas City, Missouri, USA is a managing general agent, operating as intermediary between insureds and market place, it works with travel providers, such as tour operators to provide administrative services for claims, product design and underwriting together with a state-of-the-art claims handling service.