AllClear Travel Insurance has acquired InsureandGo in a deal that will more than double its size in the UK travel insurance market.
InsureandGo will join AllClear Gold, Tailor Made, Breeze and Black Travel Insurance as part of AllClear’s portfolio of UK brands.
The deal, for an undislcosed sum, marks a “significant development” for AllClear, backed by continued support from its growth investor, Synova.
AllClear will make a further announcement on the acquisition in the weeks ahead – sharing details on how the new brands will work together to build a new, “dynamic force” in UK travel insurance.
InsureandGo has been sold by Spanish global insurance company MAPFRE Asistencia.
AllClear Group chief executive Chris Rolland (pictured) said: “After an unprecedented period, quality, trust and safety are going to be the key issues that will re-define travel insurance going forward.
“We are well known as the travel insurance brand that specialises in making holidays safe and viable for anyone with a medical history, but with this acquisition we are also gearing up for significant growth over the next 18 months, using our knowledge and expertise to help people far beyond our traditional over-50s market.
“This has been a very natural deal after working in partnership for the past ten years with MAPFRE, one of the most successful Insurers in Europe.
“The opportunity to accelerate the growth of InsureandGo, with the backing, resources and expertise of AllClear, is both clear and compelling. Our brands will share learning and leverage expertise to further enhance the services the Group provides to its valued customer base as the market starts to build again.”
MAPFRE Asistencia global chief executive Leire Jimenez added: “AllClear will provide a strong catalyst for the next stage of InsureandGo’s journey, as the strategic focus of MAPFRE moves to other ventures across our other international markets.
“Over the past few years we have partnered commercially with AllClear and have learned deeply about their business and ethos. As such, we are convinced that AllClear is the best possible future home for InsureandGo as a key brand in the UK travel sector, as well as for its customers and employees.”