US-based private equity firm Capital Z has completed the deal to take a 65% stake in Prestige Insurance Holdings, the owner of Abbey Insurance in Northern Ireland.
It also revealed that company founder George Storey will retire but remain on the board as a non-executive.
Former LV Broker-boss Phil Bunker has joined the Belfast-based business replacing Storey as chairman.
The company will stay under the existing leadership of group CEO Trevor Shaw and group chief financial officer Paul Hanna.
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