Paris-headquartered Europ Assistance, a unit of Italian insurer Generali, has acquired several of AXA Partners' assistance businesses in Asia Pacific.
Europ Assistance has acquired AXA Partners’ assistance businesses in Malaysia, Thailand, Japan, Hong Kong and Taiwan, according to a statement.
«The acquisition […] will allow us to strengthen our footprint in Thailand and Malaysia, enter Hong Kong and Taiwan, and re-enter Japan,» said Pascal Baumgarten, CEO mobility & international at Europ Assistance.
«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.»
Southeast Asia Acceleration
Europ Assistance highlighted the Southeast Asia business as a key beneficiary of the acquisition to speed up growth in the region.
«After opening an office in Bangkok in 2020 and in Kuala Lumpur and Singapore in 2021, this is the opportunity for us to accelerate our ambition to establish ourselves as the leading supplier of assistance services in Southeast Asia,» said Europ Assistance Southeast Asia CEO Philippe Demangeat.
Founded in 1963, Europ Assistance currently has 10,000 employees with customers in over 200 countries and territories. It boasts a network of 750,000 approved providers and 43 assistance centers. The firm is headquartered in Paris and is part of Italy’s Generali Group.
