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World Nomads changes hands for $106m

World Nomads changes hands for $106m

Robert Gibson

Two firms have advised on the sale of Australian travel insurance provider World Nomads to insurer nib.

Firms: HWL Ebsworth (World Nomads Group); King & Wood Mallesons (nib)

Deal: Insurance company nib bought World Nomads Group.

Value: approx. $106 million

Area: M&A

Key players: The team from HWL Ebsworth was led by partner Robert Gibson (pictured), supported by solicitor Martha Ware. At King & Wood Mallesons, partner Meredith Paynter and senior associate Miriam Kleiner worked on the deal.

Deal significance:

World Nomads Group is the third largest distributor of travel insurance in Australia. Founded in Sydney in 2000, the group has a presence in 140 countries including the United States, Canada and United Kingdom

The sale to nib was announced on the Australian Securities Exchange in early July and has just completed.

 

 

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