Europe Assistance has announced the intention to become an independent entity after an agreement was reached for a management buy out.
The company will continue to offer full underwriting services against all existing lines of business and will retain access to Europ Assistance Group’s worldwide network.
The development aims at allowing greater flexibility to focus on the development of new and innovative solutions.
The firm will be managed by the current Chief Executive Officer Patrick Leroy, supported by the current management team. Tim Ablett takes the role of company Chairman.
Commenting on the new independent company, Patrick Leroy said, “I am delighted by the opportunity to lead the new organisation. The new structure will enable us to continue to support our existing clients and gives us the flexibility to develop new and innovative services.”