Zurich: completes acquisition of Australia's Cover-More.

(CercleFinance.com) - Zurich Insurance Group has completed its acquisition of Sydney-based travel insurer Cover-More, the Swiss group said on Thursday.


Zurich says the transaction is an "important milestone," as it positions the company as a top-three global travel insurance provider.

Net of dividend, the cash consideration amounted to approximately 722 million Australian dollars (around 551 million US dollars).

Cover-More, which is present in India and the US, will continue to operate as a Zurich entity and will retain its brand name.

Copyright (c) 2017 CercleFinance.com. All rights reserved.