Newry.ie

Newry company Autoline is  set to join Prestige Insurance Group in a deal that is hoped will deliver enhanced oportunities and benefits to customers and staff. The deal, which is subject to final approval by regulatory authorities, would see Prestige Insurance Holdings acquiring the full shareholding of Autoline’s parent company, with the expanded Group employing a total of over 700 employees.

Autoline was established in Newry in 1975 and was acquired by Michael Blaney in 1997. The successful insurance broker provides a wide range of personal lines, business and commercial insurance and the award-winning Chilli Drive young driver app.

Prestige Insurance Holdings earlier this year announced a major investment by US-based investor, Capital Z. The firm was established in Newtownabbey in 1973 and provides a wide range of insurance services including broking, underwriting, insurance software and claims management.

The Autoline premises in Newry.
The Autoline premises in Newry.

Trevor Shaw, CEO of Prestige Insurance Holdings said, “Following the investment brought by our new majority owners, Capital Z, we have openly stated that we have ambitious plans for growth of the Group. Very much like our own business, Autoline has a customer-centred approach and a strong reputation, which makes it an excellent fit and an obvious choice for acquisition. As a newly combined management team we will utilise the knowledge and experience of both businesses for the benefit of our customers and for maximum growth in Northern Ireland and beyond.”

Michael Blaney, Managing Director of Autoline said, “We believe this is the right and best approach to building on the value we have created in recent years for our customers and employees at Autoline. I am confident this will deliver enhanced opportunities and benefits for both customers and staff going forward.”

Prestige CEO Trevor Shaw added that the newly expanded business will be firmly focused on ensuring business as usual for all customers and staff and that customers can be confident their current insurance cover will not be affected by this move.

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