Listed health insurer Nib Holdings has completed the sale of its travel insurance businesses. 

As reported previously, the insurer has agreed to sell its Australian and New Zealand travel insurance portfolios to Allianz Partners and World Nomads operation to International Medical Group. 

CEO and MD Ed Close says the transactions support Nib’s strategy to simplify its portfolio and focus on its core health insurance and health-related businesses.

“The completion of these transactions marks an important milestone … We are pleased to have transferred these travel insurance businesses to partners with deep industry expertise, global scale and strong growth ambitions,” he said. 

The insurer will distribute Nib-branded travel insurance in Australia and New Zealand under a 20-year pact with Allianz Partners.