AIG Buys Stevens Point-Based Travel Guard International

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Updated: 8:32 PM Mar 21, 2006 AIG Buys Stevens Point-Based Travel Guard International A company started 21 years ago by a local man in the basement of his house is now becoming the largest travel insurance company in the world thanks to a new business deal with American International Group. Posted: 5:09 PM Mar 21, 2006 Reporter: Alison Struve AIG Buys Stevens Point-Based Travel Guard

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A company started 21 years ago by a local man in the basement of his house is now becoming the largest travel insurance company in the world thanks to a new business deal with American International Group.

John Noel, the owner, says it will really expand opportunities for their employees and customers. He says AIG is the largest insurance company in the world.

Now that the Noel Group is selling Travel Guard, he's expecting the company to double its size in the next three years.

Travel Guard sells insurance for travelers and corporate clients, nearly six million customers a year. They also have 24-hour help for travelers around the world.

Noel says Travel Guard will keep its name, and he's thrilled about his company's growth.

"Travel Guard is going to be branded all over the world, and AIG operates in 132 countries in the world, and we're just really excited about Travel Guard being all over the world."

More than 675 people work for Travel Guard, and Noel expects all of them to keep their jobs, and possibly gain opportunities to work in different countries where AIG now has offices, and he will stay on as CEO.

Noel says the Noel Group will still own its other companies and humanitarian projects in Stevens Point and elsewhere and they aren't releasing many details about the sale, including how much AIG paid for Travel Guard.