NSM closes purchase of UK travel insurance brands AllClear and InsureandGo

Posted by Admin August 19, 2024 Travel

The move is expected to position the newly acquired brands as the two “in-demand” travel insurance platforms in the market. Credit: 3rdtimeluckystudio / Shutterstock.

Speciality insurer NSM Insurance Group has concluded the acquisition of InsurEVO, which includes UK travel insurance brands AllClear and InsureandGo.

This deal, whose financial terms remain undisclosed. was announced in May 2024.

The two travel insurance brands will now leverage the speciality insurer’s capacity, resources, as well as technology solutions to fuel their growth.

The move is expected to position AllClear and InsureandGo as the two “in-demand” travel insurance platforms in the market, NSM noted.

AllClear and InsureandGo group CEO Chris Rolland said: “Joining forces with NSM will bring significant value to our business and our customers.

“NSM will enable us to expand our offerings and leading-edge technology platforms to achieve our number one priority — delivering the best possible experience for our customers to meet their unique needs and to provide peace of mind.”

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Both travel brands have been supporting millions of customers since 2000.

AllClear has serviced more than three million policyholders and is known for offering tailored insurance policies for individuals with medical conditions or of advanced age, across the UK, Ireland, and Australia.

It serves national charities and household brands such as Direct Line, Aviva, Diabetes UK, and Motability.

Apart from AllClear and InsureandGo, InsurEvo comprises another key consumer brand, JustCover.

NSM Insurance Group CEO and founder said: Geof McKernan said: “We are thrilled to officially welcome AllClear and InsureandGo to the NSM family. NSM is committed to the travel and student health insurance space and building out a robust portfolio of leading travel brands around the world.

“We are excited to partner with Chris Rolland to drive exceptional innovation and growth for AllClear and InsureandGo. We have tremendous confidence in his ability to lead these businesses and capitalise on competitive advantages.”