Cover-More Group is a global travel insurance, medical and security assistance provider headquartered in Sydney, Australia. The group was acquired by Zurich Insurance Group in April 2017. The group also has leading market positions in Ireland, Latin America, New Zealand and the USA where Cover-More owns Travelex Insurance Services. The global group has more than 17 million customers and employs more than 1500 people. Cover-More has operations in 16 countries including

Australia Australia, officially the Commonwealth of Australia, is a country comprising mainland Australia, the mainland of the Australia (continent), Australian continent, the island of Tasmania and list of islands of Australia, numerous smaller isl ...

New Zealand New Zealand () is an island country in the southwestern Pacific Ocean. It consists of two main landmasses—the North Island () and the South Island ()—and List of islands of New Zealand, over 600 smaller islands. It is the List of isla ...

, the

United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...

, Ireland, the

USA The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 states and a federal capital district, Washington, D.C. The 48 contiguous ...

Canada Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...

Brazil Brazil, officially the Federative Republic of Brazil, is the largest country in South America. It is the world's List of countries and dependencies by area, fifth-largest country by area and the List of countries and dependencies by population ...

and

Argentina Argentina, officially the Argentine Republic, is a country in the southern half of South America. It covers an area of , making it the List of South American countries by area, second-largest country in South America after Brazil, the fourt ...

History

Cover-More Group was established in 1986 in Sydney, Australia. A partnership to provide travel insurance services for Flight Centre Travel Group, a travel agency network, started in 1991 and continues to this day. Cover-More Group expanded to the UK in 1996 and started a medical assistance business in 1997. In 2007 the company established Travelsure in New Zealand which was later rebranded to Cover-More Travel Insurance. In 2011

Australia Post Australia Post, formally the Australian Postal Corporation and also known as AusPost, is an Australian Government-State-owned enterprise, owned corporation that provides postal services throughout Australia. Australia Post's head office is loca ...

announced that they would offer travel insurance at post offices in partnership with Cover-More. A partnership with

Medibank Medibank is an Australian private health insurance provider headquartered in Melbourne, Victoria (state), Victoria. It is Australia's largest private health insurance provider, covering around 4.2 million customers in 2024. Medibank initially ...

began the same year providing discounted travel insurance to Medibank members. The company expanded into Asia when it acquired Assistance Online, a medical and travel assistance company based in

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

, in March 2012. Assistance Online provides coverage in

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

Hong Kong Hong Kong)., Legally Hong Kong, China in international treaties and organizations. is a special administrative region of China. With 7.5 million residents in a territory, Hong Kong is the fourth most densely populated region in the wor ...

Singapore Singapore, officially the Republic of Singapore, is an island country and city-state in Southeast Asia. The country's territory comprises one main island, 63 satellite islands and islets, and one outlying islet. It is about one degree ...

Macau Macau or Macao is a special administrative regions of China, special administrative region of the People's Republic of China (PRC). With a population of about people and a land area of , it is the most List of countries and dependencies by p ...

Taiwan Taiwan, officially the Republic of China (ROC), is a country in East Asia. The main geography of Taiwan, island of Taiwan, also known as ''Formosa'', lies between the East China Sea, East and South China Seas in the northwestern Pacific Ocea ...

and

Mongolia Mongolia is a landlocked country in East Asia, bordered by Russia to the north and China to the south and southeast. It covers an area of , with a population of 3.5 million, making it the world's List of countries and dependencies by po ...

.Cover-More Group exited the China market in 2021. In November 2013, Cover-More partnered with Indian company TrawellTag who rebranded to TrawellTag Cover-More. Cover-More exited the India travel market in 2022. However the group maintains a global IT team in Mumbai. Before Cover-More went public, Crescent Capital Partners owned 82.7 percent of the company. Crescent Capital would own 13 percent of the company after the

initial public offering An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investm ...

(IPO) in December 2013. At that time, it was the first and only Australian travel insurance provider to list on the

Australian Stock Exchange Australian Securities Exchange Ltd (ASX) is an Australian public company that operates Australia's primary securities exchange, the Australian Securities Exchange (sometimes referred to outside of Australia as, or confused within Australia as, ...

. Cover-More reported earnings of $13.3 million in 2013. In June 2014, Cover-More announced a partnership with Qunar, a Chinese online travel agency. Cover-More Group Limited was acquired by Zurich Insurance Group in April 2017 at a price of AUD 1.90 per share, approximately AUD 722 million in total. In 2017, Cover-More announced it would be introducing an Australian-first in travel insurance, offering cancel-for-any-reason cover, with the policy available through

Flight centre Flight Centre Travel Group (FCTG) is an Australian travel agency. It was founded in 1982, and is headquartered in Brisbane, Australia. FCTG operates under multiple names in Australia, New Zealand, United States, Canada, United Kingdom, South ...

Helloworld Travel Helloworld Travel is an Australian-based travel agency specialising in Retail, Corporate and Wholesale travel products and packages. Helloworld Travel is the retail travel business of Helloworld Travel Limited (HLO), with fully branded travel ag ...

, Magellan, Travellers Choice, independent travel consultancies and brokers. Cover-More became the official travel insurance partner for UK football team

Arsenal F.C. The Arsenal Football Club, commonly known as simply Arsenal, is a professional football club based in Islington, North London, England. They compete in the Premier League, the top tier of English football. In domestic football, Arsenal h ...

in October 2017. The club announced that the partnership would run for three seasons, starting from December 2017. Zurich Insurance Group announced on 12 March 2018 that it had agreed to acquire 19 Latin American legal entities in the traveler assistance market to be managed by Cover-More Group. Operating under the Travel Ace and Universal Assistance brands, the combined business holds the leading market position in Argentina and the number two market position in Brazil while also operating in Chile, Colombia, Mexico, Panama, Spain, Uruguay and the US. On 23 July 2018 Cover-More Group announced the acquisition of Blue Insurance, an Irish company specialising in a range of insurance products and trading in Ireland, UK and Australia. In November 2020, Cover-More Group announced the appointment of Cara Morton to the role of global chief executive officer. In 2024, Cover-More Group announced that Group CFO Justin Sebire had been appointed interim Group CEO following Cara Morton's promotion to the role of CEO, Zurich Global Ventures.

References

{{reflist Travel insurance companies Financial services companies established in 1986 Insurance companies of Australia Australian companies established in 1986