Prestige Insurance Holdings snaps up Londonderry broker

Prestige Insurance Holdings has acquired broker Find Insurance Northern Ireland (NI) as part of its expansion strategy.

Londonderry-based Find Insurance NI was established after the original business, which commenced trading in 1972 as WG O’Kane Insurance, was acquired by Seamus and Elizabeth Mullan in 1977.

The business offers both commercial and personal insurance products and currently employs 29 members of staff.

Prestige chief executive Trevor Shaw said the deal marked a “pivotal step” in the firm’s “ambitious expansion strategy” and would further its reach.

“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,” he added.

“And as the leading force in the Northern Ireland insurance marketplace, we’re excited about the opportunities this partnership will bring.”

Deal intentions

Find Insurance NI will be placed under Prestige’s broking umbrella as part of the move, with it joining AbbeyAutoline, BondLovis Insurance Brokers and Stroll Insurance.

The business will also continue to work from its existing branch – Prestige claimed there will be “no disruption in services or changes to [its] customers’ existing insurance policies”.

“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,” Shaw said.

Meanwhile, Find Insurance NI’s managing director Colin Mullan said the acquisition was a “testament to our commitment to providing exceptional insurance services across the region”.

“We are thrilled to join forces with Prestige and become a part of their prestigious group of brands,” he added.

Prestige was established in Newtownabbey in 1973 and in October 2018, New York-based investors Capital Z Partners acquired a 65% stake in the firm.

Shaw said: “We’re excited to welcome the locally owned brokerage and its dedicated team of staff into the Prestige family.”