04:23 AM EDT, 06/26/2024 (MT Newswires) -- American International Group ( AIG ) said early Wednesday that it signed an agreement to sell its global, individual personal travel insurance and assistance business to Zurich Insurance Group for $600 million in cash plus additional earn-out consideration.

The agreement includes the Travel Guard business and its servicing capabilities but excludes Japan and the joint venture in India. Also excluded are travel coverages offered through AIG's accident and health business.

The sale will likely close by 2024-end, subject to conditions.

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