This purchase marks AbbeyAutoline’s third acquisition in 2024, following its recent takeovers of Martin Carey Insurance in Lisnaskea and Down Insurances in Downpatrick.

The deal aligns with AbbeyAutoline’s strategy to expand its footprint and enhance its commercial insurance offerings.

Wallace Insurance Brokers, a family-run business established in 1960, specializes in insurance services for the construction and commercial sectors. Its portfolio includes coverage for professional and general liability, product and employer liability, property and machinery, vehicles, business interruption, and data breaches. The firm serves clients across industries such as construction, retail, manufacturing, hospitality, professional services, and agriculture.

As part of the agreement, Peter Wallace, the principal of Wallace Insurance Brokers, will collaborate with AbbeyAutoline to ensure a seamless transition for both clients and staff.

Julie Gibbons, Managing Director of AbbeyAutoline, expressed enthusiasm for the acquisition:

“We are delighted to welcome Wallace Insurance Brokers to the AbbeyAutoline family. Their exceptional reputation and expertise in the construction and commercial insurance sectors make them an excellent addition as we continue to expand across Northern Ireland. This acquisition, along with our recent purchases of Down Insurances and Martin Carey Insurance, further cements our position as the region’s largest insurance broker.”

Peter Wallace described the partnership as a “natural fit” and reassured clients that operations would remain unchanged:

“Our customers will continue to receive the same level of care and attention, with existing policies and payment arrangements unaffected.

This partnership allows us to offer a broader range of products and services, leveraging AbbeyAutoline’s expertise while maintaining the personal touch our clients value.”

AbbeyAutoline is part of Prestige Insurance Holdings Group, based in Carrickfergus, which recently expanded its operations with the acquisition of Derry-based brokerage Find Insurance NI.