BGL’s insurance arm acquired for £400mn 

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. 

Read more here.