The Business
For 35 years, Assured Underwriting Group has specialised in financial protection insurance (surety bonds) for the travel industry. AUG operates as an MGA (Managing General Agent), vested with underwriting authority by its primary insurer partners.
The Deal
We invested in the management buyout of AUG in 2018. We led negotiations with the vendors and took time to understand this complex business, enabling us to complete the transaction just prior to the business’s peak trading period, which was a key requirement.
The Impact
Mobeus supported AUG through a demanding period for the travel sector during Covid-19, then worked proactively with the management team to reposition the business towards international growth. With its skilled underwriting base and detailed understanding of the surety industry, AUG has expanded into 10 new markets in mainland Europe. We have supported the introduction of Carl Beardmore, a sector specialist Chairman, made three strategic bolt-ons and are targeting expansion of AUG’s travel offering into adjacent insurance areas.
The Realisation
In June 2026, Mobeus agreed to sell AUG to ANV Group, a global insurance intermediary platform. The sale is set to deliver in excess of a 4.0x MoC for Mobeus 1.
