Zurich Insurance Completes Acquisition of AIG's Travel Business with Clyde & Co's Guidance

In a strategic move to enhance its global presence, Zurich Insurance Group has successfully acquired American International Group's (AIG) global personal travel insurance and assistance business, including Travel Guard. This acquisition marks a significant addition to Zurich's offerings, which will now operate under the brand Zurich Cover-More. Clyde & Co, a leading international law firm, played a pivotal role in advising Zurich during this complex transaction. The deal involved coordination across more than 40 jurisdictions and faced tight deadlines, necessitating a robust collaboration among various legal experts across Clyde & Co's global offices. The team was spearheaded by Roshanak Bassiri Gharb, alongside other key partners from Clyde & Co's Dubai office, who led the transaction. Local correspondent firms in numerous countries also provided vital support, ensuring compliance and smooth execution across international borders. This acquisition represents a significant milestone for Zurich as it continues to expand its footprint in the global insurance market.