Allianz Partners to acquire Nib Group’s ANZ travel insurance portfolio for up to $50m
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The news: Insurance firm Allianz Partners has signed an agreement to acquire a large portion of Nib’s Australian and New Zealand Travel Insurance portfolio, subject to regulatory approval.
The numbers: The sale price for the Australian and New Zealand travel insurance businesses, excluding World Nomads, including partnerships, white label channel and Travel Insurance Direct will be to $50 million.
This includes $30 million on completion of the deal and a further $20 million if certain conditions are met in the first 12 months from completion.
The context: Ahead of the deal, Nib Group undertook a strategic review of its travel insurance business that commenced in May 2025.
The sale of the World Nomads brand to SiriusPoint subsidiary International Medical Group for $67.5 million was announced to the market in February 2026 and is on track for completion during 2026.
The sale to Allianz Partners completes the divestment of the travel portfolio. Nib’s financial adviser on this transaction is Jarden while its legal adviser is Ashurst.
What they said: “The transition simplifies our portfolio and allows us to focus our capital and capability where we see the strongest long-term value,” Nib managing director and CEO Ed Close said.
Allianz Partners CEO Chris McHugh said: “This acquisition is a landmark moment for Allianz Partners Australia. It will significantly expand our capacity to reach and serve Australians through their preferred channel with the world-class insurance and assistance products they deserve.”
The sources: ASX, Allianz Partners media release
