DUAL UK has announced its acquisition of International Passenger Protection (IPP), subject to regulatory approval in both the UK and Malta.
The firm said that this acquisition will position DUAL UK as a leading provider in the Travel Financial Failure insurance market.
Established in 1990, IPP is a managing general agent (MGA) based in London, specialising in insurance cover against the insolvency of travel operators and related suppliers. IPP offers a range of products designed to protect consumers from financial losses due to the insolvency or default of travel-related companies.
Simon McGinn (pictured above), CEO of DUAL UK, commented on the acquisition, stating that IPP is recognised as a leader in the travel sector and is a pioneer in its product offerings. McGinn noted that the acquisition will enhance DUAL’s UK portfolio by adding a strong new product set, positioning the company as the market leader in Travel Financial Failure insurance.
He also highlighted the potential for IPP to grow further through collaboration with DUAL and the wider Howden business, providing access to DUAL’s broker network and carrier partners. McGinn expressed his anticipation of welcoming the IPP team to DUAL.
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Paul Mclean, managing director of IPP, expressed optimism about the acquisition, seeing it as the beginning of a new chapter for IPP within DUAL. He pointed out the benefits of joining one of the world’s leading MGAs and becoming part of the Howden group, which will provide IPP with access to a broader network of brokers and capacity to expand its business.
Mclean also mentioned that being part of DUAL would enable IPP to continue offering high levels of service to its clients.
Following the completion of the acquisition, Brian and Paul Mclean will remain with the business.
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