ANV to acquire travel protection MGA Assured Underwriting

ANV Group has agreed to buy Assured Underwriting Group Limited (AUG), a specialist managing general agent that underwrites travel bonds and financial failure insurance for tour operators, from private equity firm Mobeus.

AUG was founded in 1983 and is based in London. It serves more than 1,600 clients across more than 10 European countries. The company also provides consulting on regulatory and insolvency requirements that govern UK and EU package travel.

ANV described AUG as the UK's leading underwriter of insurance-backed travel bonds, with a growing footprint in France and Germany.

Adam Karkowsky, Chairman and CEO of ANV, called AUG a best-in-class underwriting franchise with a long track record of disciplined, profitable underwriting. “We’re excited to work with Richard, Walter and the team to build on this strong foundation and support the company’s next phase of growth,” he said in a statement.

Richard Watson, CEO of AUG, said the partnership marks a new chapter for the firm. “ANV’s long-term investment approach, established capacity relationships, and global infrastructure are ideally suited to support our continued expansion across Europe and beyond. We are confident this is the right home for our business, our people, and our clients,” he said.

The transaction needs approval from the UK Financial Conduct Authority and is expected to close in the third quarter of 2026. The purchase price was not disclosed.

Managing general agents operate under delegated underwriting authority from insurers. AUG specializes in travel protection, where many tour operators are required by law to hold bonds or insurance to safeguard customer payments if the operator fails. The European Union's Package Travel Directive and the UK's equivalent regulation create ongoing demand for such coverage.

ANV's strategy centers on partnering with specialist MGAs in niche markets. The acquisition adds a proven operator in travel insurance, a segment with recurring regulatory-driven demand. AUG also brings consulting expertise that helps tour operators navigate complex insolvency rules across jurisdictions.

Watson will continue to lead AUG alongside COO Walter McCulloch. The firm's current team and operations are expected to remain in place after the deal closes.