Generali Global Assistance (GGA) in February 2019 announced the acquisition of U.S. travel insurance specialist TripMate.
GGA is Europ Assistance’s main brand name outside of Europe, and Europ Assistance is part of Generali Group.
Based in Kansas City, Missouri, USA, TripMate is a specialized provider of travel insurance products. It acts as a managing general agent (MGA), operating as an intermediary between travelers and the U.S. travel insurance market. It mainly works with travel providers such as tour operators, and provides administrative services for claims handling, product design and underwriting.
Trip Mate will continue to operate under its own brand.
The transaction strengthens GGA’s position among the top three travel insurance providers in the United States and enhances Generali’s global position in travel insurance.
Chairman of Europ Assistance Group Jean-Laurent Granier, also Generali Country Manager for France, says the group expects to benefit from greater distribution channels and enhanced expertise for new market segments and products in the U.S. Furthermore, the acquisition significantly expands [Generali’s] travel insurance portfolio.
TripMate previously was owned by U.S.-based global broker Gallagher which sold its 100% stake in the company.
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