Processing timeline
21
days
Acquirer(s)
AWP Australia Pty Ltd ABN - 52 097 227 177
Target(s) or Vendor(s)
nib Travel Pty Ltd ABN - 48 132 902 713
Other parties
nib Travel Insurance Distribution Pty Ltd ABN - 40 129 262 175, AWP Australia Holdings Pty Ltd ABN - 75 097 227 211, Suresave Pty Ltd ABN - 82 137 885 262, nib Holdings Ltd ABN - 51 125 633 856, nib Travel Services (Australia) Pty Ltd ABN - 81 115 932 173, Travel Insurance Direct Pty Ltd ABN - 30 121 659 470, nib International Assistance Pty Ltd ABN - 72 164 763 884
AWP Australia, part of Allianz Group, acquired certain assets of nib Travel's Australian travel insurance distribution portfolio. This asset sale in the travel insurance sector includes a distribution agreement, enabling nib Group to continue distributing white-labelled Allianz travel insurance products to its health insurance customers.
AWP Australia Pty Ltd ( AWP ), trading as Allianz Global Assistance, proposes to acquire certain assets of the travel insurance distribution portfolio of nib Travel Pty Limited ( nib ) (the Acquisition ). AWP is part of the Allianz Group ( Allianz ), a global insurance provider whose holding company, Allianz SE, is based in Germany. AWP issues travel insurance products underwritten by Allianz Australia Insurance Limited. nib is part of the nib Group, a general insurance provider operating in Australia and New Zealand. nib Group primarily supplies health insurance. It also manages and distributes travel insurance policies in Australia under different brands, which are underwritten by Pacific International Insurance. AWP and a nib Group entity also propose to enter into a distribution agreement as part of the transaction. This agreement will enable nib Group to continue distributing white-labelled Allianz travel insurance products to its health insurance customers as an authorised representative of AWP.