Belfast Telegraph

Insurer marks 50th year with £250k growth investment

By Staff Reporter

A Co Down insurance broker is marking its 50th anniversary with a £250,000 investment in the business.

McGrady Insurance in Downpatrick has already welcomed three new members of staff to its team, and now employs 18 people.

And it hopes that a major investment will double the size of the business and help it restructure to meet growing demand.

The business was established in 1964 and has grown into one of Northern Ireland's biggest independent insurers.

Managing director Fintan McGrady said: "We have experienced phenomenal growth in recent years and we're delighted to be in a strong position to invest further in our business.

"In this highly competitive arena, many operators have scaled back their physical operations or put more of their products online.

"We're different.

"We're investing in people because that's what customers have told us they want, and, because of that, they can be assured that their needs are delivered in a friendly, personable way."

Fintan said he believed insurance customers preferred to stay with a local service.

"Your broker is your agent, not an agent of your insurance company, and their primary objective is to ensure that you obtain the right mix of cover and cost to meet your specific requirements," he said.

Fintan McGrady is a nephew of the late SDLP MP for South Down, Eddie McGrady.

The business is a major provider of insurance in the motor sport and boating worlds.

It was also the organiser of the 2014 McGrady Insurance MSA Northern Ireland Rally Championship. The first round of the rally started in March and concludes with the closed road Down Rally on the October 18.

The Northern Ireland insurance market faced a major change earlier this year when US giant Liberty Insurance acquired insurance broker Hughes Insurance in Newtownards.

Belfast Telegraph