Paris, June 5, 2023 – Europ Assistance announced today the acquisition from AXA Partners1 of its assistance businesses in Malaysia, Japan, Thailand, 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.
For Pascal Baumgarten, CEO Mobility & International at Europ Assistance Group: “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.”
(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.