The insurer is closing its online broker travel facility next year

Ageas has partially withdrawn from broker travel business as it is “no longer sustainable.”

The insurer will close its online broker travel facility in May 2019 but plans to keep its schemes open.

The firm said that it will continue to accept single and annual multi-trip policies via this facility until then and these will be serviced until June 2020 when the remaining ones expire.

It follows a review of the firm’s broker travel model.

A spokesperson for Ageas, added: “We are however retaining our successful bespoke travel schemes and can discuss bespoke options with brokers looking to continue to offer a travel proposition.”

Financial results

Earlier this month the insurer reported its nine-month financial results, profits shot up to £73.6m compared to last year’s which were only £19.3m.

The UK saw good performance in motor insurance despite adverse weather during the first half of the year.

The firm’s chief executive, Bart de Smet said the results reflected a “strong basis for the commitments made for the next 3 years” under its strategic plan Connect21.