Europ Assistance (“EA”), a subsidiary of the Generali Group, today announced the acquisition of MAPFRE Asistencia’s Australia operations based in Sydney.
Europ Assistance has acquired MAPFRE Insurance Services Australia Pty – to be renamed Europ Assistance Australia Pty Ltd[subject to regulator approval)– which commercially operates under the InsureandGo brand. After 10 years of existence, InsureandGo has become one of the leaders in B2C travel insurance in Australia due to its flexible and multi-faceted digital customer journey. EA will leverage InsureandGo’s status as a leader in the B2C marketplace alongside its own expertise to expand B2B2C partnerships in the region.
As the world’s 5th largest market in terms of income, Australia represents an important market for travel insurance. As travel begins to return to pre-pandemic levels, this deal has excellent prospects for sustainable growth in the medium term.
Antoine Parisi, CEO of Europ Assistance Group: “We are delighted to enter the Australian market in order to support our global partners and further strengthen our global, multiline and multichannel positioning”.
Pascal Baumgarten, CEO Northern, Central, and Eastern Europe, Asia and South Africa at Europ Assistance Group: “After acquiring an entity in New Caledonia, then opening businesses in Thailand and Malaysia in 2020 and 2021, we have decided to accelerate our expansion in Asia/Pacific by acquiring an established player in the region with complementary operations and capabilities. This confirms that despite the recent challenges impacting the industry, we are confirming our commitment to profitable growth worldwide.”
Raphael Bandeira, CEO of Europ Assistance Australia: “We are excited to become a part of Europ Assistance and by extension the larger Generali Group. We look forward to to continuing offering best in class services to our customers in the region, especially as travel begins to recover.”