Generali Global Assistance (formerly CSA Travel Protection) has acquired Trip Mate from
Arthur J. Gallagher & Co. for an undisclosed price. Trip Mate specializes in offering travel insurance through tour
operators.
Generali CEO Chris Carnicelli said the TripMate acquisition
would boost U.S. growth, enabling Generali to achieve 13-14% market share, making
it the third-largest player behind AIG Travel Guard and Allianz.
"We are currently the leader in the vacation rental
segment of travel insurance and they are leaders in the tour operator space,
and we like that because we think that that focus is necessary to deliver the
right product and value proposition to clients," Carnicelli said.
Trip Mate will keep its brand name.