Singapore, 6 June 2023 – Europ Assistance announced today the acquisition from AXA Partners1 of its assistance businesses in Malaysia, Thailand, Japan, Hong Kong and Taiwan. With these acquisitions, Europ Assistance confirms the importance of this region to its sustainable growth strategy.
“Europ Assistance enjoys leadership positions in Europe, Latam and North America. With this acquisition, coming on top of several other recent investments, we are accelerating our effort to also reach a leadership position in the region, and further strengthen our global, multiline and multichannel positioning,” commented Antoine Parisi, CEO of Europ Assistance Group.
Since 2019, Europ Assistance, historically present in China, India and French Pacific territories, has opened offices in Thailand, Malaysia and Singapore, and has acquired the Australian and Middle Eastern subsidiaries of Mapfre Assistencia.
Pascal Baumgarten, CEO Mobility & International at Europ Assistance Group, said: “The acquisition of AXA Partners entities will allow us to strengthen our footprint in Thailand and Malaysia, to enter Hong Kong and Taiwan and re-enter Japan. In all these countries, we will be able to offer a complete range of assistance services to local clients (travel, mobility, personal assistance), and to develop our global travel insurance activity with both Asian partners and global partners willing to expand in Asia.”
Philippe Demangeat, CEO Europ Assistance South East Asia, said: “After opening an office in Bangkok in 2020 and in Kuala Lumpur & Singapore in 2021, this is the opportunity for us to accelerate in our ambition to establish itself as the leading supplier of assistance services in South East Asia through a multichannel platform that leverages digital technology to deliver a wide range of innovative solutions.”
(1) AXA Partners Holding SA is the seller of AAN and AAI Hub in Malaysia. IPA SA is the seller of AXA Assistance Japan, IPA Thailand, IPA Hong Kong, and IPA Taiwan. This transaction does not include any insurance or asset management activities of AXA entities outside AXA Partners, which remain present in Asia.
ABOUT EUROP ASSISTANCE
Founded in 1963, Europ Assistance, the inventor of assistance, supports customers in more than 200 countries and territories thanks to our network of 750,000 approved providers and 43 assistance centers. Our mission is to help bring people and businesses from distress to relief – anytime, anywhere. We provide roadside assistance, travel assistance and insurance, as well as personal assistance services such as support for seniors, digital identity protection, telemedicine and concierge services. Our 10,000 employees are committed to being the most reliable assistance company in the world.
Europ Assistance is part of the Generali Group, one of the world’s leading insurers. europ-assistance.com
Image:
- Left – Antoine Parisi, CEO of Europ Assistance Group.
- Middle – Philippe Demangeat, CEO of Europ Assistance South East Asia.
- Right – Pascal Baumgarten, CEO Mobility & International at Europ Assistance Group.
