nib to Sell International Travel Insurance Business for Nearly AU$70 Million

MT Newswires Live

02/13

nib (ASX:NHF) agreed to sell its World Nomads international travel insurance business to International Medical Group, a subsidiary of New York Stock Exchange-listed SiriusPoint, for AU$67.5 million, according to a Friday filing with the Australian bourse.

The transaction is subject to regulatory approvals and conditions with the majority of proceeds from the sale expected this year, the filing said.

nib shares rose 1% in morning trade Friday.

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