French banking giant BNP Paribas has purchased the Open and Direct Retail Services group, owners of premium finance company, Premium First.
It is understood BNP Paribas - through its subsidiary Creation Financial Services - paid around £250m for the group.
Richard Welsh, head of premium finance for Belfast-based Premium First said: "We've grown rapidly since our launch in 2002 and now with our new parentage, this shows we're here to stay."
The business was formerly backed by venture capitalist Alchemy.
Premium First focuses on personal lines, but offers a commercial lines facility to brokers who want to deal with a sole finance provider.
Premium First is known to offer keen rates and Welsh added: "Our rates are attractive, but are not everything. We're also strong on service and technology."
