New York-based American International
Group completed its purchase of Stevens Point, Wis.-based Travel
Guard International and several affiliated companies May 2.
John Noel will
continue as Travel Guards CEO, and other executives remain in
place, as well. Noel said that being part of the much larger AIG,
which has operations in more than 130 countries, opens doors to new
business opportunities for Travel Guard.
The business will
operate as Travel Guard International, a wholly owned subsidiary of
AIG Travel Services, Inc., a member company of American
International Group, Inc.
The AIG purchase
also encompassed Travel Guard Canada, Mercury International
Assistance in Brighton, England, and Livetravel Emergency Travel
Service, which is incorporated into the retail travel insurance
policies sold by travel agents.
When the sale was
announced in March, Travel Guard Americas -- with offices in
Argentina, Colombia and Mexico -- was to be part of the deal, too.
However, according to Dan McGinnity, vice president of
communications for Travel Guard, it is not part of the acquisition
for now.
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the reporter who wrote this article, send e-mail to Nadine Godwin
at [email protected].