Continued consolidation seen in the province’s broker market
Northern Irish brokers Abbey and Autoline are merging to create one of the largest intermediaries in the province.
The new company will be called Abbey Autoline, but Abbey will continue to administer the policies until the merger is complete, the company said in a statement.
Abbey, which is backed by US private equity firm Capital Z Partners after it bought a majority stake in its holding company Prestige Insurance in 2018 also bought Open + Direct Insurance in 2016.
Prestige is also the holding company for Autoline after it was in bought in December 2018.
Abbey has 23 branches across Northern Ireland.
Autoline offers car, van, farm, travel, property and is headquartered in Newry.