The
Noel Group struck a deal with American International Group to sell
Travel Guard International, the travel insurance provider, and
several affiliated companies for an undisclosed price. The
acquisition includes Travel Guard Canada, Travel Guard Americas and
Mercury International Assistance.
AIG is a major
insurance corporation with operations in 130 countries or
jurisdictions. It provides a range of types of insurance that
includes auto, health and life, as well as financial
services.
Travel Guard markets
through more than 14,000 agents and 500 travel suppliers and
administers claims, sales support and customer service for its
products.
John Noel, owner of
the Noel Group, will continue to serve as CEO of Travel Guard after
its sale to AIG.
The Noel Group will
retain ownership of several businesses, including the Noel Learning
Center, Make A Mark Foundation and Noel Aviation, Multinational
Underwriters, Noelwerks, MarineCierge and Insure
America.
To contact
the reporter who wrote this article, send e-mail to David Cogswell
at [email protected].