nib Group has completed the sale of its travel insurance businesses to Allianz Partners and International Medical Group, closing the final major stage of its exit from the sector. The transactions generated A$97.6 mn in cash consideration at completion, with up to another A$10 mn of deferred consideration potentially payable in FY2028.
The company completed the sale of its Australian and New Zealand travel insurance operations to Allianz Partners on Sept. 17, 2026.
Its World Nomads international travel insurance business was sold to International Medical Group, a wholly owned subsidiary of SiriusPoint, with completion effective Sept. 30.
nib Managing Director and CEO Ed Close said the transactions support the group’s plan to simplify its portfolio and concentrate on health insurance and health-related businesses. The travel operations have been transferred to companies with established industry experience and international scale.
The completion of these transactions marks an important milestone for nib, further strengthening our focus on our core health insurance and health-related businesses.
Ed Close, nib Managing Director and CEO
He added that nib was pleased to transfer the businesses to partners with growth ambitions in travel insurance while maintaining continuity for customers and distribution partners.
nib will continue distributing nib-branded travel insurance in Australia and New Zealand under a long-term strategic partnership with Allianz Partners. Transitional service and support arrangements will also remain in place for both transactions for a period after completion.
The company previously outlined its intended use of the sale proceeds in its FY2026 Full Year Results Presentation. This included a special dividend of 5.0 cents per share within its FY26 final dividend, due to be paid to shareholders on Oct. 7, 2026.
nib said further capital management options remain available after completion of the travel insurance disposals.
