KUALA LUMPUR, July 3 – Europ Assistance, a global leader in assistance services, has announced the acquisition of several AXA Partners Assistance businesses in Malaysia, Thailand, Japan, Hong Kong, and Taiwan. This strategic move reaffirms Europ Assistance’s commitment to sustainable growth and highlights the importance of the Asia Pacific region in its expansion strategy. With this acquisition, Europ Assistance aims to solidify its position as a leader in the assistance services sector, not only in Europe, Latin America, and North America but also in Asia.
The company has been actively investing in the region, including opening offices in Thailand, Malaysia, and Singapore since 2019 and acquiring the Australian and Middle Eastern subsidiaries of Mapfre Assistencia. By acquiring the AXA Partners entities, Europ Assistance will enhance its presence in Thailand and Malaysia, enter the markets of Hong Kong and Taiwan, and re-enter Japan. These expansions will enable Europ Assistance to offer a comprehensive range of assistance services to local clients, including travel, mobility, and personal assistance.
Additionally, the company plans to develop its global travel insurance activities by collaborating with both Asian and global partners looking to expand their presence in Asia. Philippe Demangeat, CEO of Europ Assistance South East Asia, expressed enthusiasm about the opportunity to become a leading provider of assistance services in South East Asia. With a focus on a multichannel platform and leveraging digital technology, Europ Assistance aims to deliver innovative solutions to meet the diverse needs of the region.
The transaction involves AXA Partners Holding SA selling AAN and AAI Hub in Malaysia, and IPA SA selling AXA Assistance Japan, IPA Thailand, IPA Hong Kong, and IPA Taiwan. It is important to note that this acquisition does not include any insurance or asset management activities of AXA entities outside AXA Partners, which will continue to operate in Asia. The acquisition of AXA Partners Assistance businesses marks another significant milestone in Europ Assistance’s global expansion strategy.
The company’s leadership positions in various regions, combined with its commitment to innovation and customer service, position Europ Assistance for continued success in providing exceptional assistance services to clients worldwide.
