Europ Assistance (EA), a subsidiary of the Generali Group, today announced the acquisition of MAPFRE Asistencia’s Australian operations, based in Sydney.
The acquisition of MAPFRE Insurance Services Australia Pty Ltd – which commercially operates under the InsureandGo brand – will see the company renamed to Europ Assistance Australia Pty Ltd, subject to regulatory approval.
EA has a presence in more than 200 countries, with a network of more than 750,000 assistance providers averaging 10 million assistance interventions every year. In 2019 alone, EA helped 1.2 million travellers worldwide and has major partnerships with major travel operators.
Since its inception in Australia in 2012, InsureandGo has become a local leader in B2C travel insurance due to its flexible and multi-faceted digital customer journey, comprehensive coverage – including pregnancy and pre-existing medical cover – competitive pricing, an internal claims team and a local customer service team. The company has won multiple awards and sold over 1.2 million policies to Australian consumers.
An expert in B2B2C travel insurance, EA will leverage InsureandGo’s status as a leader in the B2C marketplace and build new partnerships to become a leader in the local B2B2C space.
The acquisition will not impact the Australian operations of InsureandGo.
As the world fifth-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 Pty Ltd: “We are excited to become a part of Europ Assistance and by extension the larger Generali Group. We look forward to continuing offering best in class services to our customers in the region, especially as travel begins to recover.”
