“Business as usual” as QBE Travel joins World Nomads Group.
Listed insurance firm nib has just announced the acquisition of QBE’s travel insurance business.
The $25 million deal is part of the company’s strategy to grow its World Nomads Group travel insurance division, which includes brands such as SureSave, WorldNomads.com and Travel Insurance Direct.
“QBE Travel is Australia’s fourth largest travel insurer and has an extensive national network of more than 2,000 travel agents nationally through partnerships such as the Express Ticketing Group and other well-known Australian brands,” the company said.
nib managing director Mark Fitzgibbon said the deal builds further momentum within the company’ss travel insurance business which had already seen sales lift by 7% for the 2018 financial year.
The QBE Travel business will be rebranded to nib Travel Insurance on completion of the acquisition. However “for QBE Travel customers, clients and employees it will be business as usual,” Fitzgibbon promised.
More details in today’s issue of Travel Daily.