November 12, 2008

Days after reporting a 43% increase in profits for the year to June 2008, personal lines broking group BGL has been telling anyone who will listen this week about its plans to acquire other firms again following a seven-year hiatus.

Chief Executive Peter Winslow told Insurance Times that he is close to completing two “very significant” deals involving high-street brands. These would apparently come under the wing of BGL’s affinity-focused “partnership division” Junction. He confided to Post Magazine, however, that Hastings Direct was not a target. He told the paper’s editor Jonathan Swift that now is “a good time to be looking for businesses because the multiples are coming down and there will be forced sellers. It is something we will be focusing on next year and we will even be setting up an acquisitions team, which is something we have never done before.” BGL’s other brands include Bennetts, Budget, comparethemarket.com and Fusion.


ShareShare


    What our clients say about us

    Jo was friendly while still professional. She answered any questions and was patient and happy to help. Next steps and cover confirmation could have been a bit clearer. I've had calls from credit hire that I was expecting for replacement bike but they were pushing to do repairs. I was told this would be done by an approved repair. I called just after 9am to notify a claim and was told I would receive a call back within 10 to 15mins. I had to call back an hour later as no one had called back. The lady who answered, Jo, did deal with things straight away and was very helpful
    Mrs. L - North Shields