Derry firm acquired by NI's largest insurance group
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Prestige Insurance Holdings has announced the acquisition of Find Insurance NI, a locally owned insurance brokerage based in Derry.
The acquisition is part of Prestige Insurance Holdings' growth strategy to expand its expertise and reach in the Northern Ireland marketplace.
It also strengthens the company’s position as the Northern Ireland’s largest insurance group, delivering specialist products and services in broking, underwriting and insurtech across the United Kingdom and the Republic of Ireland.
With more than 50 years' experience in the Northern Ireland market, Find Insurance NI is a highly respected brokerage known for its commercial insurance expertise, as well as offering a wide range of personal insurance products.
The business, which started trading in 1972 as WG O’Kane Insurance, was acquired by Seamus and Elizabeth Mullan in 1977 and became Find Insurance NI. The firm has 29 full- and part-time staff.
The acquisition brings both AbbeyAutoline and Find Insurance NI under the broking umbrella of Prestige Insurance Holdings.
Trevor Shaw, chief executive officer of Prestige Insurance Holdings, 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’s team of dedicated staff will continue to work from its existing branch in Derry~Londonderry with no disruption in services or changes to customers’ existing insurance policies.
Colin Mullan, Managing Director at Find Insurance NI, said: "We are thrilled to join forces with Prestige Insurance Holdings and become a part of their prestigious group of brands. This acquisition is a testament to our commitment to providing exceptional insurance services across the region.”
Karen McQuillan, finance and operations director at Find Insurance NI, added “While we embrace this exciting new chapter, we remain steadfast in our dedication to delivering the same high-quality service our customers have come to expect for more than 50 years. Together with Prestige Insurance Holdings, we look forward to expanding our reach while preserving our unique identity and values."
Prestige Insurance Holdings was established in Newtownabbey in 1973 and brings together a diverse group of insurance businesses to offer an extensive array of services including broking, underwriting, insurance software and claims management.
In 2018, Prestige Insurance Holdings secured the backing of New York based investors Capital Z Partners, propelling the company’s commitment to growth and strategic acquisitions across key geographical markets.