Global specialty insurance provider NSM Insurance Group has completed its acquisition of InsurEVO.
The swoop, financial terms of which were not disclosed, includes UK travel insurance brands AllClear Travel Insurance and InsureandGo. By integrating these brands into its portfolio, NSM aims to leverage its extensive resources, capacity, and technological expertise to position the companies as top global travel insurance specialists.
NSM founder and chief executive Geof McKernan (pictured) commented: “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.”
McKernan was referring to the group CEO of AllClear and InsureandGo, who had this to say: “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.”
The selected travel insurance specialist scheme provider for the British Insurance Brokers’ Association since 2011, AllClear has helped cover more than three million policyholders across the UK, Ireland, and Australia for over two decades.
NSM, meanwhile, has built more than US$1.8 billion in premium across the areas of collector cars; student health and travel; social services and behavioural health; addiction treatment; coastal condominiums; community associations; towing and garage; trucking; sports and fitness; professional liability for architects, engineers, and lawyers; habitational; commercial and residential contractors; medical stop loss and managed care; staffing; and workers’ compensation.
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