Travel insurance specialist PayingTooMuch has closed its call-centre based travel agency business in Chichester after two and a half years.

A flat market brought about by Brexit has been blamed by managing director Michael Ward for the closure, which sold all travel products but focused mainly on cruise.

Ward said: “PayingTooMuch is an established and successful insurance business, the travel agency was a separate company we were experimenting with.

“We have scaled back our holidays business until we see more clearly how the Brexit debate is going to end.”

Ward said he spent around £125,000 on the agency since it launched.

PayingTooMuch has also closed its Brighton office and merged its travel insurance-dedicated call centres by bringing all staff to Chichester.

The travel insurance sales team provides cover for customers with pre-existing medical conditions, according to PayingTooMuch’s website.

“Closing the Brighton travel insurance call-centre was a result of having two call-centres running at about 50% capacity,” Ward added. “Operationally this makes good sense.”