THE Travel Protection Group is to acquire PJ Hayman
and Company for an undisclosed sum.
The deal, which should be finalised in the next two to three
weeks, will give travel insurance specialists TPG control of approximately 10%
of the UK travel insurance market.
Chief executive of TPG Stephen Howard said: “This deal
brings together the combined skills of PJH with their specialised product
design and marketing to the insurance broker market and TPG’s expertise in
dealing with the requirements of leading travel agents and tour operators.”
The company is to continue trading under the PJ Hayman name
and there will be no job losses.
Howard said there would be further acquisitions in the
future as TPG expands its operations.