Ignyte Insurance acquires travel insurance marketplace InsureMyTrip

Ignyte Insurance, based in the United States, has acquired travel insurance marketplace InsureMyTrip, expanding its range of travel and travel medical insurance companies. InsureMyTrip, established in 2000 and based in Warwick, Rhode Island, will retain its existing branding and continue serving customers through its established carrier network.

The financial details of the transaction have not been disclosed. Geof McKernan, CEO of Ignyte Insurance, stated that the acquisition adds a highly regarded business to Ignyte's portfolio, offering tremendous brand equity, strong carrier relationships, and a loyal customer base built over 25 years. Ignyte aims to invest in the company by providing capital, technology, and operational support to help InsureMyTrip accelerate its growth.

Following the acquisition, InsureMyTrip will join five other travel brands within Ignyte, collectively managing over $650 million in premiums and serving clients across the US, the UK, Europe, and Australia. McKernan expressed excitement about welcoming InsureMyTrip to the Ignyte family of brands and supporting the team as they continue to innovate and serve travelers for years to come.

In November last year, Philadelphia Insurance Companies (PHLY) announced a $615 million deal to acquire Ignyte's collector vehicle division, placing four brands under PHLY's control.