Citybond Suretravel, a division of Citybond Holdings, has purchased Aon’s wholesale travel insurance business.
Citybond said it would develop this customer based along side its existing network of some 1,000 tour operators and retail travel and insurance agents.
Citybond’s managing director, Mansukh Ganatra said that Aon had built up a highly desirable portfolio of agents and that he was delighted with the acquisition. “We have grown to be the leading independent travel insurance provider in the UK now handling 1.5 million insured passengers and £35m of gross written premiums per annum.”
Ben Holroyd-Doveton, Aon Personal & Group Programme’s finance director, said: “Once our decision to cease operating in the wholesale travel sector was made, Citybond, with their strong reputation in the industry, were the most suitable successors to handle our book.
Citybond Suretravel was established in 1984 and is a member of the British Insurance Brokers’ Association (BIBA), an ABTA Travel Industry Partner and a member of the Association of Travel Insurance Intermediaries (ATII).