AbbeyAutoline, Northern Ireland’s largest insurance broker, has announced the acquisition of Wallace Insurance Brokers’ customer book of business.
The purchase of the Coleraine firm is the third acquisition by AbbeyAutoline in 2024, after buying Martin Carey Insurance in Lisnaskea and Down Insurances in Downpatrick.
AbbeyAutoline said the latest deal was part of its ambition to expand its footprint and widen its commercial insurance services.
Wallace Insurance Brokers is a well-established family business founded in 1960, specialising in insurance for construction and commercial industries.
Under the terms of the deal, principal Peter Wallace will work alongside AbbeyAutoline to ensure a smooth transition for clients and staff.
Its commercial portfolio includes professional and general liability, product and employer liability, property and machinery, vehicle, business interruption, and data breach insurance.
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It has clients in sections like construction, retail, manufacturing, hospitality, professional services, and agriculture.
Julie Gibbons, managing director of AbbeyAutoline, said: “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.”
Mr Wallace said joining AbbeyAutoline was a “natural fit”. “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, based in Carrickfergus, which recently acquired Derry brokerage Find Insurance NI.