GE Insurance looks set to lose the British Airways travel insurance account after the business was put out to formal tender two years before the end of the contract.
AIG, Mondial and Churchill are thought to be interested in the prestige account, reported to include the actor Sean Connery among its policyholders.
A market source said: "The contract was due to be up in 2006, but there was a 90-day get out clause that I can only presume BA invoked."
Though the British Airways account is not one of biggest in the sector, it is considered to have prestige.
The estimated £3m GWP business is thought to include a highpercentage of celebreties.
GE Insurance was not available for comment.