SiriusPoint Acquires Assist America to Enhance Travel Insurance Services

SiriusPoint Ltd., a global leader in insurance and reinsurance, has announced its acquisition of Assist America through its subsidiary, International Medical Group (IMG). Assist America is respected for its AI-driven emergency travel assistance services and collaborates mainly with carriers offering corporate benefit plans, generating annual revenues of about $20 million. This strategic move underscores SiriusPoint's commitment to diversifying its risk management portfolio and enhancing regulatory compliance requirements while expanding its service reach.

The acquisition is set to bolster IMG's capabilities by integrating third-party medical and travel assistance services, elevating its stature in the industry. This expansion strategy aims to increase IMG's market penetration in the U.S. and broaden its service coverage in Asia and the Middle East. By incorporating Assist America's expertise, SiriusPoint intends to strengthen its income streams efficiently, boosting returns on equity and enhancing overall earnings per share through optimized underwriting practices.

Assist America supports over 40 million members globally, offering critical emergency solutions during travel. This partnership will enable IMG to deliver enhanced travel and medical assistance solutions by leveraging Assist America's renowned expertise and influential market position. The transaction was advised by Insurance Advisory Partners LLC and Mayer Brown LLP for SiriusPoint, and by DDA & Company and Fox Rothschild LLP for Assist America, marking a significant milestone in SiriusPoint’s strategic growth and industry regulatory compliance.