Starr International Acquires Travel Insurer With a Presence in More Than 107 Countries

Starr International Co., Inc. said it has acquired Assist-Card International Holdings S.A., which provides travel assistance and insurance in more than 107 countries worldwide.

Assist-Card's chief executive officer, Alexia Keglevich, will remain with the company and report to Ed Navarro, Starr's new head of international operations.

Assist-Card offers travel insurance for emergency medical or dental services, baggage and personal effects, missed connections, and trip cancellation, interruption or delay, according to its website. It also offers travel and emergency assistance for travelers in their own language on things like claims forms, out-of-pocket expenses, replacement of medications, medical emergencies and even restaurant recommendations.

The company recently assisted with the high-profile rescue of mountain climber Ignacio Javier Lucero, who had a massive heart attack while climbing the Himalayas in Nepal. Assist-Card coordinated Lucero's transfer by helicopter to Kathmandu, Nepal for life-saving medical procedures, according to the statement.

Assist-Card has hubs in Miami; Madrid; Buenos Aires, Argentina; Bogota, Columbia; Lima, Peru; Sao Paulo, Brazil; Ho Chi Minh City, Vietnam; and South Korea.

Starr International has four insurance subsidiaries that provide property/casualty and accident and health insurance products, including Starr Indemnity & Liability Co., Starr Insurance & Reinsurance Ltd., Starr International Insurance (Asia) Ltd. and Starr Surplus Lines Insurance Co.

Starr Cos. said in December it had appointed Navarro as its new head of international insurance operations (Best's News Service, Dec. 14, 2011). Also in December, Starr Cos. formed a new global casualty insurance practice to provide overall underwriting to its general casualty insurance offerings (Best's News Service, Dec. 5, 2011).

And in May, Starr Insurance and Reinsurance Ltd. became a strategic investor in Shanghai-based nonlife insurer Dazhong Insurance Co. Ltd. with the acquisition of a 20% stake (Best's News Service, May 27, 2011).

Starr Indemnity & Liability Co. and Starr Surplus Lines Insurance Co. have a current Best's Financial Strength Rating of A (Excellent).

(By Marie Suszynski)