Insurer says acquisition will help to grow its distribution and sales capabilities in the German travel sector
Lloyd’s insurer Markel International has bought German travel managing general agent (MGA) and broker MDT Makler der Touristik GmbH Assekuranzmakler for an undisclosed sum.
The company provides property and casualty package cover, combining professional indemnity, general liability, credit and office contents protection to German travel agents, tour operators and intermediaries.
Markel president and chief operating officer William Stovin said the acquisition would help Markel grow its distribution and sales capabilities in the travel sector.
The acquisition follows Markel’s purchase of Anglo Underwriting and the subsequent formation of the German Markel branch office in 2013.