Prestige Insurance Holdings Limited
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Prestige Insurance Holdings Limited - overview
Established
2007
Location
Belfast, -, UK
Primary Industry
Insurance
About
Prestige Insurance Holdings Limited is a specialized insurance provider offering comprehensive broking, underwriting, and InsurTech solutions tailored for both B2B and B2C markets. Founded in 2007 and headquartered in Belfast, UK, Prestige Insurance Holdings Limited operates in the insurance sector, focusing on both broking and underwriting services. The company was acquired by Capital Z Partners in September 2018, gaining a 65% majority stake. The founder, George Storey, had previously established a background in the insurance industry.
The most recent deal occurred on July 19, 2018, marking a significant milestone for the firm. Prestige Insurance Holdings primarily provides a comprehensive range of insurance services encompassing Broking, Underwriting, and InsurTech solutions, specifically tailored for both business-to-business (B2B) and business-to-consumer (B2C) markets. Their Broking division focuses on delivering personalized services to clients across personal and commercial lines, supported by a network of over 1,300 brokers throughout the UK and Ireland. The Underwriting division offers a robust suite of standard and non-standard insurance products, catering to diverse customer needs.
With over 25 years of expertise, Prestige develops bespoke web-based insurance software solutions aimed at enhancing the digital experience for brokers and consumers alike. The company's products are strategically positioned in the UK and Ireland markets, leveraging partnerships with leading global insurers to ensure a high-quality end-to-end service. In the most recent fiscal year of 2018, Prestige Insurance Holdings reported a revenue of USD 60. 32 mn, with an EBITDA of USD -242,567.
4 for 2023. Revenue generation comes from their Broking and Underwriting divisions, which facilitate insurance placements and policy management through a network of brokers, along with supplementary services such as vehicle hire and claims management. Looking ahead, Prestige Insurance Holdings plans to develop innovative new products, although specific details about upcoming launches or release dates are not currently available. The company is also looking to expand its operations into additional markets, with targeted regions not specified at this time.
The recent acquisition by Capital Z Partners will support these initiatives, with the acquisition completed in September 2018, allowing management to leverage new resources and strategies for growth.
Current Investors
Capital Z Partners
Primary Industry
Insurance
Sub Industries
Insurance Intermediaries, Software
Website
http://www.prestigeholdings.co.uk/
Verticals
FinTech, InsureTech
Company Stage
Mature - Buyout
Total Amount Raised
Subscriber access only
Prestige Insurance Holdings Limited - financials
| Fiscal Year Ended | Mar 31, 2010 | Mar 31, 2011 | Mar 31, 2012 | Mar 31, 2013 | Mar 31, 2014 | Mar 31, 2015 | Mar 31, 2016 | Mar 31, 2017 | Mar 31, 2018 | Mar 31, 2019 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 43,739,000 | 42,626,000 | 39,971,000 | 34,213,000 | 33,277,000 | 32,366,000 | 33,586,000 | 43,672,000 | 45,467,000 | - | - | - | - | - | - | - |
| % Revenue Growth (YoY) | - | (2.5%) | (6.2%) | (14.4%) | (2.7%) | (2.7%) | 3.8% | 30.0% | 4.1% | - | - | - | - | - | - | - |
| EBITDA (USD) | 7,991,000 | 6,986,000 | 7,373,000 | 5,078,000 | 4,263,000 | 4,254,000 | 2,119,000 | 7,000,000 | 5,673,000 | (61,000) | (152,000) | (225,000) | (134,000) | - | - | - |
| Operating Income (USD) | 2,206,000 | 1,109,000 | 3,299,000 | 2,062,000 | 1,010,000 | 784,000 | (1,611,000) | 2,372,000 | 974,000 | (61,000) | (152,000) | (225,000) | (134,000) | - | - | - |
| Operating Margin | 5.0% | 2.6% | 8.3% | 6.0% | 3.0% | 2.4% | (4.8%) | 5.4% | 2.1% | - | - | - | - | - | - | - |
| % EBITDA Margin | 18.3% | 16.4% | 18.4% | 14.8% | 12.8% | 13.1% | 6.3% | 16.0% | 12.5% | - | - | - | - | - | - | - |
| NET Income (USD) | (1,329,000) | (1,465,000) | 559,000 | 154,000 | (400,000) | (924,000) | 4,008,000 | 567,000 | (477,000) | (259,000) | 2,642,000 | 2,942,000 | 3,195,000 | - | - | - |
| % Net Margin | (3.0%) | (3.4%) | 1.4% | 0.5% | (1.2%) | (2.9%) | 11.9% | 1.3% | (1.0%) | - | - | - | - | - | - | - |
Prestige Insurance Holdings Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Add-on | Completed | Find Insurance NI Ltd. | - | ||||||||
| Buyout | Completed | Prestige Insurance Holdings Limited | - |
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