Markerstudy has confirmed the completion of its purchase of BGL Insurance, having received regulatory approval for the change in ownership. Markerstudy said the BGL Insurance brand would be retained, and there were no anticipated changes to its three locations of Peterborough, Sunderland and Wakefield.

Kevin Spencer, CEO of Markerstudy Group, said: “This is an auspicious event in our history as we warmly welcome 1700 new colleagues to our group.

“Our partnership creates a business with more than 6 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 insurtech prowess. We are all very excited by the opportunities ahead.”

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.”

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