Last Updated on: 22nd November 2023, 05:38 am
Explorer Insurance Services, the parent company of UK-based brands Explorer Travel Insurance and TravelTime Travel Insurance, has announced its acquisition of a significant shareholding in Status Insurance Management Ltd, a specialised travel insurance intermediary operating across Europe. Status holds the distinction of being a Lloyd’s Coverholder in both the UK and the EU. The acquisition aims to fuel Status’s growth, providing support for organic expansion as well as new opportunities.
Established in 1984, Status Insurance Management Ltd offers travel insurance coverage to residents of the UK and the EU under its Europesure Travel Insurance brand. With a presence in Cyprus and the UK, Status delivers its products through online channels and a well-established network of European insurance brokers and travel agents.
Paul O’Sullivan, Director of Status, expressed, “We are witnessing significant demand for high-quality travel insurance products throughout Europe. In addition to our flagship Europesure product, we have several exciting new programs in the pipeline. The expertise and resources brought by the Explorer team will enable us to progress rapidly.”
Ian Jennings, Managing Director of Explorer, commented, “The European travel insurance market presents numerous enticing opportunities. The Directors at Status have done an exceptional job in building the business thus far, and I eagerly anticipate supporting their ambitious plans for development.”
Status Insurance Management Ltd’s existing organisational structure will remain unchanged, with Directors Paul O’Sullivan and Ian Atkinson continuing to lead the company. Ian Jennings will soon join the team to contribute his expertise.
