The Collinson Group has signed a deal to acquire Aria Assistance, a global assistance, travel and private medical insurance provider, in an effort to expand its businesses in general insurance and financial services market.
Set up after the management takeover of Europ Assistance UK & Ireland, Aria will form part of Collinson Group's insurance division, following completion of the transaction in the next few months.
Financial terms of the acquisition remained undisclosed, while the deal is subject to regulatory approval.
Collinson Group director David Evans was quoted by Insuranceage as saying that the addition of Aria Assistance and Aria International Health Solutions to the company's business will strengthen its assistance capabilities in the region.
Aria chief executive Patrick Leroy added, "We are delighted to be joining a group that shares our ethos of service and innovation, and look forward to taking advantage of the new opportunities that will emerge."
Underwriting more than £50m gross written premium and handling over a quarter of a million claims and assistance cases on an annual basis, Aria has offices and contact centers in Haywards Heath and Navan, Republic of Ireland.
Serving 20 million customers, Collinson Group delivers an array of products and services including insurance, assistance, card protection, ID theft, airport lounge access and loyalty expertise.