18.7 C
Saturday, May 25, 2024
FinanceExplorer Insurance Expands with Acquisition of Stake in Status Insurance Management

Explorer Insurance Expands with Acquisition of Stake in Status Insurance Management

Explorer Insurance Services, the owner of popular UK travel insurance brands Explorer Travel Insurance and TravelTime Travel Insurance, has announced the acquisition of a shareholding in Status Insurance Management Ltd, a specialised travel insurance intermediary operating across Europe. Status is a Lloyd’s Coverholder in both the UK and the EU, and this strategic investment by Explorer Insurance will drive the organic growth of Status and support the exploration of new opportunities.

Status, established in 1984, offers comprehensive coverage to residents of the UK and EU through its Europesure Travel Insurance brand. With operations in Cyprus and the UK, Status provides its products online and through a well-established network of European insurance brokers and travel agents.

Paul O’Sullivan, Director of Status, expressed confidence in the market demand for high-quality travel insurance products across Europe. He commented, “Alongside our flagship Europesure product, we have exciting new programs in development. The expertise and resources brought by the Explorer team will enable us to progress swiftly.”

Ian Jennings, Managing Director of Explorer, acknowledged the vast potential within the European travel insurance market. He commended the Directors of Status for their exceptional work in establishing and growing the business, and he eagerly anticipates supporting their ambitious development plans.

Under the acquisition, Status will continue its existing organisational structure, led by Directors Paul O’Sullivan and Ian Atkinson. Ian Jennings will join the leadership team in the near future, contributing his expertise to further drive the company’s growth.

As Explorer Insurance expands its footprint through this strategic partnership, both companies are poised to capitalise on the numerous opportunities presented by the European travel insurance sector. The collaboration will strengthen Status’ position and enhance its ability to provide exceptional products and services to its customers across Europe and beyond.

Sam Allcock
Sam Allcock
With over 20 years of experience in the field SEO and digital marketing, Sam Allcock is a highly regarded entrepreneur. He is based in Cheshire but has an interest in all things going on in the North West and enjoys contributing local news to the site.
Subscribe to our newsletter
Business Manchester will use the information you provide on this form to be in touch with you and to provide updates and marketing.
Don't miss

More News