Tue, 13 Feb 2024 | BUSINESS SALE
Prestige Insurance Holdings has continued its Northern Ireland growth strategy with the acquisition of Derry~Londonderry-based insurance brokerage Find Insurance NI. The acquisition strengthens the company’s position as the largest insurance group in Northern Ireland and expands its specialist products and broking, underwriting and insurtech services across the UK and Republic of Ireland.
Find Insurance NI has been operating in the Northern Ireland market for more than 50 years and has established a strong reputation in commercial insurance, as well as providing a wide array of personal insurance services. Originally beginning trading in 1972 as WG O’Kane Insurance, the company was acquired by Seamus and Elizabeth Mullan in 1977 and renamed Find Insurance NI.
Prestige Insurance Holdings, a diverse group of insurance businesses providing a wide array of services, has been backed by New York-based Capital Z Partners since 2018. This investment has accelerated the company’s organic growth, as well as strategic acquisitions in key regions.
As well as significantly boosting its Northern Ireland presence, the latest acquisition will bring Find Insurance NI and AbbeyAutoline under the group’s broking umbrella. Following the takeover, the company’s team will continue to work from its existing headquarters, with no disruption to services or to customers’ existing policies.
Prestige Insurance Holdings CEO Trevor Shaw said: "The acquisition of Find Insurance NI is a pivotal step in our ambitious expansion strategy, and we’re excited to welcome the locally owned brokerage and its dedicated team of staff into the Prestige Insurance Holdings’ family.”
“We believe that Find Insurance NI's outstanding reputation for offering excellent advice to a loyal customer base make them an ideal addition to our portfolio of brands, and as the leading force in the Northern Ireland insurance marketplace, we’re excited about the opportunities this partnership will bring.”
“As we continue to grow and diversify our portfolio, we remain dedicated to enhancing our expertise and extending our service offering, ensuring that we can meet the evolving needs of our clients, and this acquisition aligns seamlessly with that vision.”
Find Insurance NI Managing Director Colin Mullan said that the deal was “testament to our commitment to providing exceptional insurance services across the region.”
Finance and Operations Director Karen McQuillan added that the company “remain steadfast in our dedication to delivering the same high-quality service our customers have come to expect” and that the acquisition would enable the firm to expand its reach “while preserving our unique identity and values."
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