AbbeyAutoline has completed its third major acquisition of 2024 with the purchase of Coleraine-based Wallace Insurance Brokers’ customer book of business. This acquisition follows earlier deals involving Martin Carey Insurance in Lisnaskea and Down Insurances in Downpatrick, according to a news release.
Wallace Insurance Brokers, a family-owned business established in 1960, has built a reputation for delivering tailored insurance solutions to clients in the construction and commercial sectors. Its portfolio includes a wide range of insurance services such as professional and general liability, employer liability, property and machinery coverage, and business interruption insurance.
Peter Wallace, principal of Wallace Insurance Brokers, will collaborate with AbbeyAutoline to ensure a seamless transition for both staff and customers.
Julie Gibbons, managing director of AbbeyAutoline, welcomed the announcement of the acquisition. “We are delighted to welcome Wallace Insurance Brokers to the AbbeyAutoline family,” Gibbons said. “Their outstanding reputation and expertise in the construction and commercial insurance sectors make them a perfect fit for our business as we continue to expand our footprint across Northern Ireland.
“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.”
Wallace emphasised the shared values between the two. “Joining AbbeyAutoline is a natural fit for our business and our clients,” Wallace stated. “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.”
AbbeyAutoline is part of the Prestige Insurance Holdings Group, which offers a wide array of personal and commercial insurance products. The group recently strengthened its position in Northern Ireland’s insurance market with the acquisition of Find Insurance NI, a brokerage based in Derry~Londonderry.
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