SiriusPoint’s IMG to buy Assist America

International Medical Group (IMG), the global insurance benefits and assistance services provider and a wholly owned subsidiary of Bermuda-based specialty re/insurer SiriusPoint, has agreed to acquire Assist America as it looks to scale its emergency travel and assistance capabilities worldwide.

Founded in 1990, by George W. Howard, III, Assist America is a global emergency travel assistance services provider, producing around $20 million in annual assistance revenues.

Assist America primarily sells its services to insurance companies as part of their corporate benefit plan products. It provides reliable global emergency assistance to over 40 million members across Asia, the Middle East and North America. The acquisition will significantly bolster IMG’s third-party medical and travel assistance revenue.

Scott Egan (pictured right), CEO at SiriusPoint, said: “The acquisition of Assist America represents a strategic step forward in strengthening IMG’s global assistance services offering. Assist America is a highly respected business with deep expertise in emergency travel assistance, and this deal creates significant future growth opportunities.

“The acquisition is accretive to both return on equity and earnings per share, adds additional capital-light fee income, and reinforces our commitment to building a diversified, high-performing portfolio.”

Will Nihan (pictured left), CEO at IMG, said: “The acquisition of Assist America expands our global reach and enhances our ability to deliver best-in-class medical and travel assistance solutions to clients worldwide. Assist America brings exceptional capabilities and a strong reputation. Together, we will continue to innovate and provide unparalleled service to our partners and customers.”

Brian Mulligan, CEO at Assist America, said: “We are proud of what we have accomplished over 35 years as a family-owned company, and are excited to embark on the next chapter of our journey with the added financial strength and resources of SiriusPoint and IMG behind us.”

Insurance Advisory Partners served as SiriusPoint’s exclusive financial advisor and Mayer Brown served as legal advisor. DDA & Company served as Assist America’s exclusive financial advisor and Fox Rothschild served as legal advisor.

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