Zurich to purchase Australia’s Cover-More
Australia’s travel insurance provider, Cover-More Group announced it had agreed to a $551.16 million takeover offer from Zurich. Cover-More, is an Australian travel insurance intermediary with quite a bit of offices across the globe (think: Australia, UK, China, India, New Zealand, Malaysia, and US). Earlier this year it announced a partnership with Berkshire Hathaway Travel Protection, where the latter planned to underwrite Cover-More’s products in the US. Also, according to Reuters, Berkshire Hathaway acts as the underwriter for Cover-More in Australia and New Zealand. Bottom Line: If BH makes a counter offer, this is why .