AIG Completes Sale Of Personal Travel Insurance And Assistance Unit To Zurich Insurance

(RTTNews) - American International Group, Inc. (AIG), a global insurance organization, Tuesday announced that it has closed the previously announced sale of its global individual personal travel insurance and assistance business, including Travel Guard, to Zurich Insurance Group AG (ZURVY) on December 2.

It was in June 2024 that the companies inked the $600 million deal, in cash and additional earn-out consideration.

The sale excluded operations in Japan, AIG's partnership in India, or travel insurance provided through AIG's Group Accident & Health business.

AIG's financial advisor was Evercore Group L.L.C.. The legal counsel were Willkie Farr & Gallagher LLP and Norton Rose Fulbright LLP.

Monday, AIG had closed its regular trading 1.13% lesser at $76.01 on the New York Stock Exchange. In the extended trading, AIG was up 0.08% to $76.07.

Monday, ZURN.SW had closed its regular trading 0.72% higher at 562.60 francs.