Zurich acquires World Travel Protection

Zurich Canada has announced the acquisition of World Travel Protection (WTP), a Canadian travel insurance assistance and administration company. WTP offers travel insurance administration, case management and health information services to large institutions in the affinity and employee group markets. Prior to the acquisition, Zurich Canada held a 50% equity interest in WTP. Full ownership and control was acquired from MultiServices Holding Company.

The move furthers Zurich’s interests in the assistance industry. Zurich Assist, launched in 1993, provides 24-hour emergency and referral assistance to Zurich customers and responds to an average 50,000 calls per month. Adding WTP’s assets and resources provides Zurich with higher levels of capacity as well as adding new products — particularly travel insurance — to their portfolio. “We are now in an excellent position to embed WTP’s unique travel insurance and medical assistance capabilities into a number of our key target market strategies,” says Michael Stramaglia, Zurich Canada president.