Company News
3 min read
AbbeyAutoline, Northern Ireland’s largest insurance broker, has announced the acquisition of Coleraine-based Wallace Insurance Brokers' customer book of business.
The deal marks the third acquisition by AbbeyAutoline in 2024, following the purchases of Lisnaskea-based Martin Carey Insurance and Downpatrick-based Down Insurances.
This latest acquisition is part of AbbeyAutoline’s ambitious growth strategy to expand its footprint and enhance its commercial insurance service offerings across Northern Ireland.
Based in Coleraine, Wallace Insurance Brokers is a well-established family-owned business founded in 1960, highly respected for its expertise in providing tailored insurance solutions for the local Construction and Commercial industries.
As part of the acquisition, Peter Wallace, Principal of Wallace Insurance Brokers, will work alongside AbbeyAutoline to ensure a smooth transition for both clients and staff joining the AbbeyAutoline team.
Its comprehensive commercial insurance portfolio includes professional and general liability, product and employer liability, property and machinery, vehicle, business interruption, and data breach insurance.
This expertise and broad range of solutions enables AbbeyAutoline to meet the diverse needs of businesses across sectors such as construction, retail, manufacturing, hospitality, professional services, and agriculture.
Julie Gibbons, Managing Director of AbbeyAutoline, commented: "We are delighted to welcome Wallace Insurance Brokers to the AbbeyAutoline family. 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."
Peter Wallace, Principal of Wallace Insurance Brokers, added: “Joining AbbeyAutoline is a natural fit for our business and our clients. We’ve always prided ourselves on providing a personal and professional service, and AbbeyAutoline shares those same values, making this transition an easy decision.
“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, part of the Prestige Insurance Holdings Group, offers a comprehensive range of Personal and Commercial insurance products, making them the one-stop shop for all insurance needs in Northern Ireland.
Prestige Insurance Holdings Group recently acquired Find Insurance NI, a Derry~Londonderry brokerage, further strengthening its position as Northern Ireland’s largest insurance group, delivering specialist products and services in broking, underwriting, and insurtech across the United Kingdom and the Republic of Ireland.
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