Acquisitive brokerage strikes deal for firm’s customer book of business
Mon, 08 Jul 2024 | BUSINESS SALE
Insurance brokerage AbbeyAutoline has completed its second deal within the space of a week with a deal for Down Insurance Limited’s customer book of business. The deal follows the company’s acquisition of Lisnaskea-based Martin Carey Insurance’s customer book of business earlier this month.
The two acquisitions form part of AbbeyAutoline’s plans to grow its customer base and bolster its offering of insurance services across the Northern Ireland marketplace. The company is part of the Prestige Insurance Holdings Group and has a 440-strong workforce working across 15 branches in Northern Ireland.
AbbeyAutoline was launched in 2020 via the integration of Abbey Insurance and Autoline. In addition to its recent acquisitions, the company also acquired family-owned BMG Insurance in 2022.
Down Insurance, a family-owned brokerage based in Downpatrick, County Down, was founded by Michael Kearney in 1983.
Following the deal, AbbeyAutoline Managing Director Julie Gibbons (pictured above) said: "This acquisition, along with the recent addition of Martin Carey Insurance, significantly strengthens our presence in the Northern Ireland marketplace and reinforces our commitment to delivering exceptional service and value to our growing customer base.”
"We're delighted to welcome the Down Insurances team into the AbbeyAutoline family and together we will continue to provide exceptional service and comprehensive insurance solutions to our valued customers."
Down Insurance Managing Director Jonathan Kearney added: "Joining forces with AbbeyAutoline is a positive move for our customers and our dedicated team of sales advisors.”
"This acquisition ensures our clients will continue to enjoy the exceptional service they’ve come to know, now with the added benefit of AbbeyAutoline’s extensive range of Personal and Commercial insurance products from the world’s leading insurers."
Find out more about the trends shaping dealmaking activity in the UK's insurance sector
Share this article
Latest Professional and Financial Businesses for Sale
Legal Claim Business
UK Wide
Presently seeking expressions of interest for the business and assets of a legal claims business with approximately £5m WIP.
Accountancy Business
West Sussex, South East, UK
My client, a reputable firm in the area comes to the market due to retirement with a view to finding a friendly and professional purchaser that will retain staff and premises.
Accredited Accountancy
Sussex, South East, UK
This vendor is seeking a reputable, well-established buyer who understands the importance of nurturing long-term relationships with both staff and clients.