|AIG ANNOUNCES ACQUISITION OF TRAVEL GUARD INTERNATIONAL FROM NOEL GROUP|
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NEW YORK, Mar 20, 2006 -- American International Group, Inc. (AIG) today announced that a wholly-owned subsidiary company is acquiring Travel Guard(TM) International, one of the nation's leading providers of travel insurance programs and emergency travel assistance, from the Noel Group of Stevens Point, Wisconsin. Financial terms of the acquisition were not disclosed.
Travel Guard International is one of the industry's leading travel insurance program providers, covering more than six million travelers worldwide each year. As part of the transaction, AIG will also acquire Mercury International, Travel Guard Americas(TM) and the Travel Guard Canada brands from the Noel Group.
Commenting on the acquisition, Anthony Galioto, President of the Worldwide Accident and Health Division of the AIG Companies said, "The acquisition of Travel Guard International provides significant enhancement to AIG's existing travel insurance business around the world by adding full service marketing, customer service, claims and assistance expertise to our existing underwriting capabilities. We expect this acquisition will help broaden opportunities for AIG in the travel insurance business."
American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG's common stock is listed in the U.S. on the New York Stock Exchange as well as the stock exchanges in London, Paris, Switzerland and Tokyo.