It is understood that AXA has replaced GE as underwriter for package holiday company TUI UK.
AXA, GE Insurance and Churchill-owned Inter Group Insurance Services (IGIS) were involved in the tender. ...
It is understood that AXA has replaced GE as underwriter for package holiday company TUI UK.
AXA, GE Insurance and Churchill-owned Inter Group Insurance Services (IGIS) were involved in the tender.
The result was announced this week and AXA will be taking over from GE Insurance as underwriter.
A spokeswoman for TUI UK said it was too early to comment.
A leading travel insurer expressed concern that the new underwriter would be under pressure to get the book ready by 1 January 2003.
He said there was "not much time" until the renewal date.
TUI UK owns brands that include Thomson Holidays and Lunn Poly. Lunn Poly sells 2.7 million holidays and flights a year and accounts for over 20% of the market.
The names TUI Northern Europe and TUI UK came into official use on 3 April this year to replace Thomson Travel Group and Thomson Holidays. This was done as part of the restructure and creation of a single UK business.
