SiriusPoint’s IMG Set to Acquire Emergency Travel Services Provider Assist America

Global specialty insurer and reinsurer SiriusPoint Ltd. has made a significant move in the insurance sector by announcing that its subsidiary, International Medical Group (IMG), will acquire Assist America. This New Jersey-based company specializes in global emergency travel assistance services and generates approximately $20 million in annual assistance revenues.

Founded in 1990 by George W. Howard, III, Assist America primarily markets its services to insurance companies, integrating them into corporate benefit plans. The company provides essential global emergency assistance to an impressive 40 million members across regions including Asia, the Middle East, and North America.

SiriusPoint emphasized that this acquisition will “significantly bolster” IMG’s third-party medical and travel assistance revenue. It is expected to increase the company’s scale within the U.S. market while also expanding its coverage capabilities into Asia and the Middle East.

Headquartered in Bermuda, SiriusPoint operates with offices in major financial hubs such as New York, London, and Stockholm. The company is licensed to write property and casualty, as well as accident and health insurance and reinsurance on a global scale. Its operating companies collectively report around $2.8 billion in total capital, showcasing a robust financial foundation.

IMG offers a wide range of services, including international private medical insurance, travel medical insurance, and travel insurance. Additionally, it provides insurance administrative services along with 24/7 emergency medical, security, and travel assistance. The organization caters to a diverse clientele, including travelers, students, missionaries, marine crews, and various groups who are traveling, working, or living away from home.

Topics
Mergers & Acquisitions

Global specialty insurer and reinsurer SiriusPoint Ltd. has made a significant move in the insurance sector by announcing that its subsidiary, International Medical Group (IMG), will acquire Assist America. This New Jersey-based company specializes in global emergency travel assistance services and generates approximately $20 million in annual assistance revenues.

Founded in 1990 by George W. Howard, III, Assist America primarily markets its services to insurance companies, integrating them into corporate benefit plans. The company provides essential global emergency assistance to an impressive 40 million members across regions including Asia, the Middle East, and North America.

SiriusPoint emphasized that this acquisition will “significantly bolster” IMG’s third-party medical and travel assistance revenue. It is expected to increase the company’s scale within the U.S. market while also expanding its coverage capabilities into Asia and the Middle East.

Headquartered in Bermuda, SiriusPoint operates with offices in major financial hubs such as New York, London, and Stockholm. The company is licensed to write property and casualty, as well as accident and health insurance and reinsurance on a global scale. Its operating companies collectively report around $2.8 billion in total capital, showcasing a robust financial foundation.

IMG offers a wide range of services, including international private medical insurance, travel medical insurance, and travel insurance. Additionally, it provides insurance administrative services along with 24/7 emergency medical, security, and travel assistance. The organization caters to a diverse clientele, including travelers, students, missionaries, marine crews, and various groups who are traveling, working, or living away from home.

Topics
Mergers & Acquisitions