AUB Group Limited has agreed to acquire a majority stake in Prestige Insurance, positioning the firm as its flagship UK retail broking platform. The move is set to consolidate Tysers’ retail portfolios, accelerate AUB’s Retail MGA strategy, and strengthen its presence in the UK alongside existing investments in Movo and Momentum AR networks.
Prestige Insurance, founded in 1973, operates across the UK and Ireland and combines a substantial retail broking portfolio, multiple specialist MGAs, and a leading insurance technology platform. The group employs around 650 peopleand serves as a holding company for a range of businesses, including broking brands AbbeyAutoline, Open and Direct, Bond Lovis, and Find Insurance NI, MGA operations Prestige Underwriting and Octane London Market, and its insurance technology platform, Covernet.
AUB Group described the acquisition as a strategic step that materially accelerates 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,” the firm said.
“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.”
Trevor Shaw, CEO of Prestige Insurance Holdings Ltd, said:
“This is a landmark moment for Prestige Insurance. 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.”
Mike Emmett, CEO and Managing Director of AUB Group, added:
“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.”
Emmett noted that the planned integration of Tysers’ retail portfolios into Prestige Insurance would strengthen the platform further, extending the breadth of solutions available to brokers and clients while delivering value to shareholders. He also emphasized the importance of Prestige’s senior leadership, saying AUB values the experience of Trevor Shaw and his team in guiding the group’s continued growth across broking, underwriting, and insurtech.
The deal is subject to regulatory approval and is expected to complete before 30 June 2026. Prestige Insurance was advised by Continuum Advisory Partners, Carson McDowell, and EY, while AUB Group was advised by Deloitte and Pinsent Masons.
