International Medical Group (IMG) has announced the acquisition of World Nomads from its previous parent company, Australian firm nib.

World Nomads, which has approximately USD 40 million of gross written premium, has been offering travel protection globally since 2002.

The purchase significantly expands IMG’s global travel insurance distribution capabilities, including in several key markets. The firm now has distribution in 34 countries and territories, including Australia, Brazil, Canada, the European Union (EU), New Zealand, the UK, and the US.

“World Nomads is an excellent addition to IMG’s portfolio, extending our global reach, enhancing our product offerings, and expanding our operations to include Australia alongside our offices in the US and UK,” said Will Nihan, CEO of IMG.

He added: “These acquisitions represent a major step forward in IMG’s long-term growth strategy. This is a powerful affirmation of the strong momentum behind our business and another step towards our vision of being the preeminent provider of travel and health safety solutions around the globe.”

The move builds on IMG’s recent prior acquisition of Assist America, a global emergency travel assistance firm that produces approximately $20 million in annual assistance revenue.