Family-owned broker sells up after 64 years

AbbeyAutoline has made its third acquisition of 2024 with the purchase of Wallace Insurance Brokers’ customer book of business.

Based in Coleraine, Wallace Insurance Brokers is a family-owned business that was founded in 1960.

Its commercial insurance portfolio includes professional and general liability, product and employer liability, property and machinery, vehicle, business interruption and data breach insurance.

Peter Wallace, principal at Wallace Insurance Brokers, will work alongside AbbeyAutoline to help with the transition for both clients and staff.

Wallace said: “I want to reassure our customers that it’s business as usual – they will continue to receive the same level of care and attention they have come to expect from us, with their existing policies and payment arrangements remaining unchanged.

“This partnership marks an exciting new chapter, allowing us to offer a wider range of products and services, alongside AbbeyAutoline’s expanded range of expertise.

“We’re confident our clients will benefit from the broader selection of tailored insurance solutions that AbbeyAutoline can provide, all while maintaining the personal touch they value.”

Other deals

The deal follows the purchases of Lisnaskea-based Martin Carey Insurance and Downpatrick-based Down Insurances in 2024.

AbbeyAutoline said the latest deal forms part of its growth strategy to expand its footprint and enhance its commercial insurance service offerings across Northern Ireland.

Julie Gibbons, managing director at AbbeyAutoline, said: “This acquisition, alongside the recent purchases of Down Insurances and Martin Carey Insurance, reinforces our position as Northern Ireland’s largest insurance broker.

“It strengthens our ability to offer even more comprehensive and tailored commercial insurance solutions to businesses, particularly within the commercial sector.

“These acquisitions are key milestones in our long-term strategy to grow our business and ensure that we continue to deliver the best possible service to our clients across the region.”