Deal for Abbey owners Prestige completes with Capital Z taking 65% share


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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