Markerstudy has announced the acquisition of BGL Insurance (BGLi) from BGL Group, a digital distributor of insurance and household financial services.

Kevin Spencer, group CEO of Markerstudy, said: “As a leading distributor in the market, taking ownership of BGLi provides us with a unique opportunity to further accelerate and increase our growth potential. We have enjoyed a long and fruitful partnership with BGL Group, and this has strengthened in recent years with BGLi acting as an outsource partner to a number of Markerstudy brands. This is a fantastic springboard into 2022.”

Peter Thompson, CEO of BGL Insurance, added: “We are excited to become part of the Markerstudy Group. The partnership is a natural evolution for BGLi and brings together our leading digital distribution capabilities with the innovative underwriting capabilities of Markerstudy. The combination creates a business with close to 6 million customers and our complementary skills will enhance our customer proposition.”

The transaction is subject to regulatory approval and is expected to complete during the first half of 2022.

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