Blue Insurance's operations in Ireland and the UK have been bought by global travel insurance and medical assistance provider, Cover-More Group.
Cover-More is part of the Zurich Insurance Group and the umbrella group for Zurich's global travel insurance and assistance business.
It is headquartered in Australia and has operations in 21 countries across five continents.
The company is currently estimated to be the third largest travel insurance provider in the world.
The co-founder and managing director of Blue Insurance, Ciaran Mulligan, and his executive team will remain with the company.
"Since Blue Insurance was created in 2003, the strategy has been to offer consumers a unique, innovative and convenient offering that represents an affordable alternative to 'traditional' insurance providers," Ciaran Mulligan said.
"This is a win for travellers and for consumers as we marry Blue Insurance’s offering with Cover-More’s personalisation technology and customer-centric approach," he said.
The acquisition is subject to approval of the competition authority here.
