Status Insurance coverage Holdings has acquired an insurance coverage brokerage based mostly in Derry/Londonderry.
The acquisition of Discover Insurance coverage NI is a part of Status Insurance coverage Holdings’ technique to broaden its experience and attain within the Northern Eire market.
With greater than 50 years of expertise within the Northern Eire market, Discover Insurance coverage NI is a specialises in industrial insurance coverage, as properly as providing a vary of non-public insurance coverage merchandise.
The business commenced buying and selling in 1972 as WG O’Kane Insurance coverage and was acquired by Seamus and Elizabeth Mullan in 1977 and have become Discover Insurance coverage NI. The business at present employs 29 full and part-time employees.
The acquisition brings each AbbeyAutoline and Discover Insurance coverage NI below the broking umbrella of Status Insurance coverage Holdings.
Trevor Shaw, chief government of Status Insurance coverage Holdings, mentioned: “The acquisition of Discover Insurance coverage NI is a pivotal step in our formidable enlargement technique, and we’re excited to welcome the regionally owned brokerage and its devoted staff of employees into the Status Insurance coverage Holdings’ household.
“We believe that Find Insurance NI’s outstanding reputation for offering excellent advice to a loyal customer base make them an ideal addition to our portfolio of brands, and as the leading force in the Northern Ireland insurance marketplace, we’re excited about the opportunities this partnership will bring.”
Discover Insurance coverage NI’s staff will proceed to work from its current department in Derry/Londonderry.
Colin Mullan, managing director at Discover Insurance coverage NI, mentioned the acquisition was “a testament to our commitment to providing exceptional insurance services across the region”, whereas Karen McQuillan, finance and operations director added “we look forward to expanding our reach while preserving our unique identity and values”.
In 2018, Status Insurance coverage Holdings secured the backing of New York based mostly funding agency Capital Z Companions.