One of Northern Ireland’s biggest insurance groups AbbeyAutoline has bought County Armagh family-owned brokerage BMG Insurance for an undisclosed sum.
The move will see the 13-strong team from BMG Insurance come under the AbbeyAutoline umbrella, marking the latest acquisition for a firm which has grown substantially over the last few years.
Established in 1972 by Brian McGurgan, BMG Insurance has headquarters in Portadown with an additional office in Newtownbutler in County Fermanagh. It offers a range of personal policies and and specialises in motor and haulage insurance.
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AbbeyAutoline said the deal is being signed at present and is likely to take another six weeks to be completed.
“BMG Insurance has an excellent reputation within the insurance industry here in Northern Ireland and with its customers,” AbbeyAutoline Managing Director Julie Gibbons said. “It is a company which has a proven track record of forming lasting relationships with its customers and for offering excellent advice.
“These are values which are closely aligned to AbbeyAutoline’s and the acquisition is an exciting one for both parties.
Owned by parent company Prestige Insurance Holdings, AbbeyAutoline was formed in 2020 from the merger of Abbey Insurance and Autoline which it bought back in 2018. It has a headcount of 430 currently and said it has plans in place to grow further in the coming years.
“Since the merger in 2020, our business has remained buoyant despite the unprecedented challenges presented by the pandemic, and we are continuing to look for the right opportunities to support our expansion.”
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BMG Insurance boss Brian McGurgan said the business has grown substantially since being formed 50 years ago.
“Everyone at BMG Insurance is looking forward to the next chapter as we look ahead and work towards joining the AbbeyAutoline fold,” he said. “Our business has been built on a determination to offer excellent advice and friendly service, values which are a fundamental part of AbbeyAutoline.
“It’s about getting to know the needs of customers and tailoring policies which are right for them. As our team moves under the AbbeyAutoline umbrella, I can assure our existing customers of a continuity in service.”