AbbeyAutoline to buy BMG Insurance

Deal set to be finalised within the next six weeks

AbbeyAutoline to buy BMG Insurance

Mergers & Acquisitions

By Terry Gangcuangco

Family-owned brokerage BMG Insurance will soon be acquired by AbbeyAutoline.

Without disclosing the deal’s financial terms, AbbeyAutoline said it has signed the agreement to snap up the Portadown-headquartered business, which specialises in motor and haulage insurance. The Northern Ireland company, which also has an office in Newtownbutler, was founded by Brian McGurgan in 1972.

“Everyone at BMG Insurance is looking forward to the next chapter as we look ahead and work towards joining the AbbeyAutoline fold,” stated McGurgan. “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.”

The transaction is expected to be finalised within the next six weeks.

Commenting on the pending swoop, AbbeyAutoline managing director Julie Gibbons (pictured) noted: “BMG Insurance has an excellent reputation within the insurance industry here in Northern Ireland and with its customers. 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. As part of the deal, we look forward to welcoming the 13-strong team from BMG Insurance to the company.”

Part of the Prestige Insurance Holdings Group, AbbeyAutoline came to life when brokers Abbey Insurance and Autoline combined.

“Since the merger in 2020,” said Gibbons, “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.”

AbbeyAutoline’s 15 branches across Northern Ireland are manned by more than 400 people.

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