NIB Holdings Limited
(ASX:NHF) has inked a deal to buy Australia’s third largest travel insurance provider, World Nomads Group.
Private health insurer NIB Holdings says the transaction has a total consideration of $95 million on an enterprise value basis.
World Nomads Group is described as a specialist provider of travel insurance in Australia and New Zealand.
NIB says the asset also has a growing foothold in a number of key international markets including the United States, Canada and the United Kingdom.
NIB Holdings reported a net profit of $41.12 million in the first half of the 2015 financial year.
