Allianz Partners to Acquire nib Travel Portfolio, Strengthening Australian Market Offering

Allianz Partners today announced it has signed an agreement to acquire a large portion of nib’s Australian and New Zealand Travel Insurance portfolio marking a significant milestone in the company’s growth strategy and its long-term commitment to the Australian market.  The deal remains subject to regulatory approval and satisfaction of certain commercial conditions. 

The transaction includes:

• the acquisition of the Travel Insurance Direct (TID) brand
• a twenty year white labelled distribution agreement with nib Group in both Australia and New Zealand,
• and acquisition of a large portion of nib’s established intermediary relationships in Australia.

The transaction establishes Allianz Partners as a leading force in the Australian travel insurance market enabling a more comprehensive presence across both digital and in-person channels. 

Critically, it marks Allianz Partners’ expansion into the offline travel distribution channel in Australia: the bricks-and-mortar agent channel that remains a vital point of purchase for Australian travellers, particularly those booking complex or high-value itineraries. The ability to support customers across both digital and intermediary channels is becoming increasingly important - particularly for higher-value and more complex travel.

For Australian travellers, the result will be greater access to Allianz Partners’ world-class insurance and assistance products - wherever and however they choose to book. For the business, it will deliver the scale, footprint and channel depth to compete at the top of one of the Asia Pacific region’s most dynamic insurance markets.

“This acquisition is a landmark moment for Allianz Partners Australia. It will significantly expand our capacity to reach and serve Australians through their preferred channel with the world-class insurance and assistance products they deserve. It will also strengthen our offering in a highly competitive market and gives us the scale to continue investing in our customers, partners and service delivery.” Chris McHugh, Chief Executive Officer, Allianz Partners Australia.

"This transaction is a clear signal that APAC - and Australia specifically - is a priority growth region for Allianz Partners. We have strong conviction in the opportunity here, and this acquisition reflects that conviction in a very tangible way. Australia has a dynamic, growing travel insurance market and a team that has demonstrated the capability and commitment to lead in it. This is the kind of strategic investment that builds long-term value, and I am proud to see it come to fruition.” Phil Hoffman, Chief Officer Travel, Allianz Partners.

The acquisition will build on Allianz Partners’ global momentum. Since 2024, the company has surpassed €10 billion in total revenues globally, with APAC identified as a key growth region.