Europ Assistance announced 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. Generali Global Assistance also provides corporate solutions in the travelsphere in addition to senior care and cyber security services.
Trip Mate will continue to operate under its current and established brand, maintaining its customer-centric focus on building longstanding partner relationships. Trip Mate customers and partners will benefit from the global growth benefits afforded by Europ Assistance’s reach and scale.
Antoine Parisi, CEO Europ Assistance Group, said, “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.”
Jean-Laurent Granier, Chairman of Europ Assistance Group and Generali Country Manager for France, added, “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.”
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.