Zurich Insurance Group acquires Cover-More Group

Switzerland-based Zurich Insurance Group has successfully acquired Cover-More Group Limited (Cover-More), a travel insurance and assistance solutions provider based in Sydney with a strong market position in Australia, India and the US. Subsequently, TrawellTag Cover-More has also become a part of the Zurich Insurance Group. Cover-More will continue to operate as a discrete entity and will retain its brand. Zurich Insurance Group looks to significantly expand its travel insurance portfolio and grow in global travel and assistance markets. It has acquired 100% of the issued share capital of Cover-More through its wholly-owned subsidiary, Zurich Travel Solutions Pty Limited. The cash consideration amounts to approximately AUD 722 million (USD 551 million) in total.