SiriusPoint has announced that its wholly owned subsidiary, International Medical Group, has acquired global travel insurance and lifestyle brand World Nomads. The acquisition expands IMG’s travel insurance distribution capabilities with World Nomads targeting a broad customer base of independent, lifestyle, and adventure travelers.

The deal follows IMG’s recent acquisition of Assist America, a leading provider of global travel assistance services, producing around US$20m in annual assistance revenues.

Scott Egan, CEO at SiriusPoint, said: “World Nomads is a fantastic addition to the IMG business, strengthening its global offering and increasing its premiums written through a broader customer base. Together, IMG, World Nomads, and Assist America have created a truly integrated insurance provider, poised for further growth. IMG will now have a presence in 34 countries, distribute its products across six continents, and provide around-the-clock service coverage.

“Both acquisitions are accretive to both return on equity and earnings per share, and reinforce our commitment to building a diversified, high-performing portfolio.”

Will Nihan, CEO at IMG, added: “I am proud that the IMG business continues to go from strength to strength. With the recent additions to our portfolio and a clear strategy for expansion, we are building a truly global platform that works for our customers. This planned growth positions us for a strong future, one where we can deliver greater reach, enhanced services, and sustainable value.”