The acquisitions cover a number of assistance subsidiaries in Hong Kong, Japan, Malaysia, Taiwan, and Thailand, and will support Europ Assistance in ‘continuing its expansion in a strategic region’.
This includes AAN and AAI Hub in Malaysia; AXA Assistance Japan; IPA Thailand; IPA Hong Kong; and IPA Taiwan.
The purchases build on Europ Assistance’s historical presence in China, India, and French Pacific territories, as well as the company’s more recent expansions in Malaysia, Singapore, and Thailand. The company also bought Mapfre Assistencia’s Australian subsidiary in January 2022, as well as its Middle Eastern subsidiary in June 2022.
“Europ Assistance enjoys leadership positions in Europe, Latin America, and North America,” said Antoine Parisi, CEO of Europ Assistance Group. “With this acquisition … we are accelerating our effort to also reach a leadership position in the region, and further strengthen our global, multiline, and multichannel positioning.”
Pascal Baumgarten, CEO Mobility & International at Europ Assistance Group added: “In all these countries, we will be able to offer a complete range of assistance services to local clients – travel, mobility, personal assistance – and to develop our global travel insurance activity with both Asian partners and global partners willing to expand in Asia.”