AIRTOURS Group is ending its multi-million pound contract with CGU and setting up its own in-house insurance company in Dublin.
The move will be a major blow for CGU, which has provided Airtours insurance for six years through the Travellers Insurance Association, now renamed CGU Insurance.
CGU had provided insurance for Hogg Robinson and Pickfords before they were acquired by Airtours and merged to form Going Places.
Airtours will enjoy significant financial benefits from the move as the Irish capital is well known for offering attractive tax breaks to companies that set up this type of operation.