Travel & General

Travel & General

A leading UK provider of financial protection insurance for the travel industry

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Mobeus VCT Fundraising
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Mobeus VCT Offers 2019/20 -

The Business

For 35 years, Travel & General Insurance Services Limited has specialised in financial protection insurance (surety bonds) for the travel industry. T&G operates as an MGA (Managing General Agent), vested with underwriting authority by Hiscox, which acts as the primary insurer.

The Deal

We invested £8.4m in the management buyout of T&G. As part of the transaction, £3m of senior debt was provided by Triple Point. 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 Plan

With its skilled underwriting base and detailed understanding of the surety bonding industry, T&G is expanding into other areas of surety, including bonds for construction projects. We have supported the introduction of Christian Young, a sector specialist Chairman, and are targeting bolt-on acquisitions of specialist MGA operations.  
 

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“We have a fantastic team assembled – and now the right backing in Mobeus – to really capitalise on the potential of the business and expand into other surety areas.”

Richard Watson
T&G, Managing Director
 

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