ABL Group [ABL], one of Northern Ireland’s leading insurance brokers, has acquired a multi-million pound insurance book from Aon in the UK.
According to Maurice Boyd, Group CEO, the acquisition gives ABL renewal rights to a high-quality portfolio of SME and corporate clients, with the main classes of business being commercial combined and motor fleet.
He said: “I am delighted to have secured this book of business, which reinforces our market-leading position and underlines ABL’s aggressive growth strategy.”
“Even in the COVID-19 environment, we remain keen to do more deals, both for books of business as well as broking businesses and we are in constructive discussions with a number of parties.”
Since it became the Northern Ireland hub business for Global Risk Partners in 2015, ABL has grown rapidly, both organically and through acquisitions.
ABL operates from six locations across Northern Ireland and now controls well over £50m gross written premium.
Maurice confirmed that two employees from AON have been recruited to join the ABL team to service the acquired business.
He noted: “With Global Risk Partners support and boosted by the new investment by Searchlight, we are emerging from the pandemic in a financially robust position with an excellent deal pipeline and a strong appetite for quality businesses to join our group. Our door remains open to brokers who wish to create value from their life’s work.”
ABL Group was founded in 2004 and has since grown both organically, thanks to the Group’s focus on high quality people delivering a great service to its customers and through acquisitions. ABL employs over 120 people. The Group’s strategy is to continue the development of its branch network by acquiring commercial brokers across its region.