AIG completed the $600 million USD (approximately $822 million CAD) sale of its global individual travel insurance business, including Travel Guard, to Zurich Insurance Group on December 2, 2024. The deal, announced on June 26, 2024, excluded Japan, AIG’s joint venture in India, and group travel coverages.

Evercore advised AIG, with legal counsel from Willkie Farr & Gallagher LLP and Norton Rose Fulbright LLP. Zurich was represented by Clyde & Co globally and Stikeman Elliott in Canada. The business will now operate as “Zurich Cover-More.”