BGL, which own’s Comparethemarket, has sold its insurance arm to Markerstudy – reports Sky News.
In Brief:
Markerstudy has agreed to buy BGL Insurance in a deal worth £400mn.
Markerstudy is the sixth largest motor insurer in the UK.
This deal will add around 3mn customers.
What does this mean?
Markerstudy – which purchased Co-Op insurance two years ago – doubles its customer base with this new deal. It will add the likes of M&S and the RAC to its portfolio from BGLi.
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