Insurance firm acquisition creates business with more than six million customers

Insurance business Markerstudy Group has today confirmed completion of its acquisition of BGL Insurance.

BGL Insurance has a major customer service centre in Wakefield, as well as bases in Sunderland and Peterborough.

Regulatory approval for change of control was received in April, on the eve of Markerstudy’s 21st anniversary.

Kevin Spencer, CEO of Markerstudy Group, said: “This is an auspicious event in our history as we warmly welcome 1,700 new colleagues to our group.

“Our partnership creates a business with more than six million customers and our complementary skills will enhance our customer proposition and create significant growth potential.

“Together, we have operational strength and leading digital distribution capabilities, alongside underwriting, product and insuretech prowess. We are all very excited by the opportunities ahead.”

He said the leadership teams of both businesses will now be working together to identify synergies and prepare for integration, opening the doors for new opportunities for staff to develop their careers.

Peter Thompson, CEO of BGL Insurance, added: “The complementary skills and capabilities within our businesses, combined with the strength of the Markerstudy Group, truly represents a unique opportunity to accelerate and increase our growth potential – something I am very excited about.”

The BGL Insurance brand will be retained, and there are currently no anticipated changes to the three locations of Wakefield, Peterborough and Sunderland. Thompson will continue in his role as CEO.

Close