AUB Group Expands UK Platform with Majority Acquisition of Prestige Insurance Holdings
- AUB Group Limited (AUB) and PIHL Holdings Limited (Prestige Insurance) are pleased to announce that the parties have entered into an agreement for AUB to take a majority shareholding in the Prestige Insurance business, with completion subject to regulatory approval.
- Prestige Insurance is the holding company for:
- Prestige Insurance Broking businesses, including AbbeyAutoline, Open and Direct, Bond Lovis & Find Insurance NI;
- Prestige Insurance MGA businesses, including Prestige Underwriting & Octane London Market; and
- Insurance technology platform, Covernet
- This investment marks a major strategic step for AUB, materially accelerating its scale and expansion in the UK retail insurance market. By applying its proven broking, MGA and technology model, AUB will unlock greater capability, broaden market reach, and deliver enhanced value for Prestige Insurance’s partners and clients.
- Prestige Insurance will become AUB’s flagship UK retail broking platform—consolidating Tysers’ Retail portfolios and driving AUB’s Retail MGA strategy—significantly accelerating Prestige Insurance’s market reach while reinforcing AUB’s broader UK footprint alongside existing investments in Movo and Momentum AR networks.
- This partnership enables Prestige Insurance to retain its independence and distinctive culture, while unlocking access to AUB’s scale, insight and strategic capability. It expands choice for customers and brokers, accelerates growth opportunities, and reinforces Prestige Insurance’s position as a leading insurance Group in the UK and Ireland. Prestige Insurance will continue operating as a standalone organisation across Broking, Underwriting and InsurTech under the leadership of CEO Trevor Shaw.
- The transaction is subject to regulatory approval and expected to complete before 30th June 2026.
Prestige Insurance Holdings Ltd – An Overview
Prestige Insurance is a differentiated insurance group in the UK and Ireland markets, integrating a substantial broking portfolio, multiple specialist MGAs and a market leading insurance technology platform. Established in 1973 and now employing ~650 people, Prestige Insurance combines a resilient and diverse client base with proven underwriting expertise and advanced digital capability. This integrated model positions the Group for significant scalability and long term growth, while continuing to support and strengthen the independent brokerage sector across the UK and Ireland. Portfolio businesses within Prestige Insurance include:
- Prestige Insurance’s broking business encompassing a premium portfolio of market leading brands including AbbeyAutoline, Find Insurance NI, Open and Direct and Bond Lovis, writing > £170 million GWP, offering commercial-focussed and specialised products across 18 branches – genuine local presence with strong client relationships, underpinned with an efficient operating platform of ~approximately 350 sales staff servicing the UK and Irish markets.
- The Group’s award-winning specialist MGAs include Prestige Underwriting and Octane London Market writing £140 million GWP across UK and Ireland supported by key A-rated partners with enduring and trusted relationships. The business has expertise in writing niche non-standard property and motor risks, alongside select commercial vehicle risks, supporting >550 broking partners in the UK market
- Covernet, a market-leading insurance technology business that supports a broad range of clients including major global insurers and MGAs in the UK and Ireland servicing >£ 330million GWP in premium via its platform
Commenting on today’s announcement, Trevor Shaw, CEO of Prestige Insurance Holdings Ltd, stated:
“This is a landmark moment for Prestige Insurance. With six decades in the industry, we have built a leading insurance group across Broking, Underwriting, and Insurtech, firmly rooted across the UK and Ireland. Partnering with AUB Group gives us an exceptional platform to accelerate our growth, invest further in our people and services, and expand our presence across our current markets, while retaining the independence and culture that have been central to our success. Our commitment to our customers, partners and stakeholders remains unchanged.”
Commenting on today’s announcement, Mike Emmett, AUB Group CEO and Managing Director, said:
“Our acquisition of Prestige Insurance represents a major step forward in the execution of our UK strategy. Prestige Insurance brings a powerful combination of retail broking strength, specialist underwriting capability and leading insurance technology—exactly the platform required to scale meaningful growth and build on our existing capability in one of the world’s most significant insurance markets
By combining AUB’s proven broking and MGA operating model with Prestige Insurance’s established brands, leadership and distribution footprint, we are creating a strong, future focused retail platform for the UK. The planned integration of our Tysers Retail portfolios into Prestige Insurance will further reinforce this foundation, extend the breadth of solutions we can offer brokers and clients and deliver value to our shareholders.
Prestige comes with a high quality management team. We greatly value the expertise Trevor and the senior leadership team bring, and we look forward to working closely with them across Broking, Underwriting and InsurTech as the Group continues to implement our strategy for growth. With this partnership, AUB is strongly positioned to support Prestige Insurance in delivering on its long term strategic ambitions across the UK and Ireland.”
Thank you to advisors on both sides – Prestige Insurance Holdings Ltd were advised by Continuum Advisory Partners, Carson McDowell and EY; AUB Group were advised by Deloitte and Pinsent Masons.