Ryanair, the high profile budget airline based in Ireland, has added insurance to the burgeoning range of products it sells to its passengers.

Ryanair is the most popular no-frills airline in Europe, carrying some 42 million passengers per year, and therefore is a lucrative opportunity for an insurer to target. Ryanair’s policies will be underwritten by Equity Insurance, and will focus on motor and home cover.

The insurance cover will be marketed both on board Ryanair’s planes, in the in-flight magazine and on its website, the main portal through which passengers buy tickets.

Ryanair’s mainstream passengers tend to be slightly older. Our expectations for this deal are very high because of the sheer size of the customer base, Neil Utley, Equity’s chief executive, told the Independent newspaper.