Insurance broker BGL has risen from being a rank outsider to the UK's leading insurance comparison service as a result of its flagship brand CompareTheMarket.com, and more particularly its offbeat "CompareTheMeerkat" campaign, which has been a huge hit with consumers since its launch in 2009. Although it also represents other insurers in return for commission, CompareThe Market is primarily a vehicle for the group's own insurance brokerage businesses including Budget, Dial Direct and motorbike specialist Bennett's. BGL also underwrites private label insurance for third parties including M&S, O2 and the Post Office, and offers life insurance via online service BeagleStreet.com. The group also operates price comparison site LesFurets.com in France. As a result, BGL Holdings is now one of the UK's biggest private companies, with 8.5m insurance customers and brokerage & fee income of over £585m in ye 2017. Peter Winslow is executive chairman with Matthew Donaldson as CEO. The business was originally formed in 1992 as Budget Insurance, an arm of the South African insurer Auto & General, founded by entrepreneur Douw Steyn. Budget Group Ltd became BGL in 2007. The UK business is still controlled by BHL Holdings, a group jointly owned by Steyn and another South African billionaire, Dick Enthoven. BGL has announced plans to issue an IPO for part of its shares in the near future, possibly in 2018. Subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
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Capsule checked 8th December 2017
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