Staysure says that the deal further strengthens its position in the insurance marketplace and reinforces its credentials as a supplier of over 50s travel insurance. The company will acquire Avanti’s customer base, but Avanti, which started trading in 2009, will still be managed as a standalone business by managing director Chris Little. Staysure says the move will allow for opportunities to cross-sell relevant travel, insurance and lifestyle products to its customer base.
“This is a deal that we're very pleased to have concluded and an announcement in what is set to be a landmark year for [us],” said Ryan Howsam, Staysure's chairman. “It is a fresh statement of our intent to continue to lead the sector through growth in our specialist area of expertise and ongoing product innovation. The move will strengthen both Staysure and Avanti’s position in the market.”
Staysure says that existing Avanti policies will remain unchanged. Avanti CEO Glen Smith added: “I am proud of how the Avanti brand has grown over the past few years and the great customer service provided. I believe I've passed it on to a great new home which will see it go from strength to strength.”