Elmonda

Elmonda Group, which combines the Swiss company Elvia Travel Insurance and France’s Mondial Assistance, has acquired the privately-held US travel insurance group World Access. The move will strengthen Elmonda’s presence in North America and Asia. Elmonda is a subsidiary of French insurer AGF (50%) and Italy’s RAS (50%) within the Allianz group. It handles all the group’s assistance and travel insurance activities. Its turnover rose 19% to E658mn (US$627mn). Richmond VA-based World Access maintains subsidiaries in Florida, Canada, Singapore and the UK. It had a 1999 turnover of US$117mn.