NSM Insurance Group, a global specialty insurance provider, has acquired Florida-based Envisage International, which writes health and travel insurance plans for international students and cultural exchange participants.
NSM President Bill McKernan said the move was prompted in part by the boom in the travel insurance market, which is expected to reach $41 billion by 2027.
Envisage, with offices in Neptune, Florida, has two products, International Student Insurance and Envisage Global Insurance, the companies said in a news release. Keith Clausen is president of Envisage International.
NSM, with headquarters in Conshohocken, Pennsylvania, said the acquisition of Envisage will add to its portfolio of specialty insurance programs. Terms of the deal were not disclosed.
Topics Mergers & Acquisitions Florida
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