Peterborough-based insurance giant BGL considers stock market listing

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Alexander meerkat

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Insurance giant Peterborough-based BGL Group is considering a listing on the London Stock Exchange.

The idea is at an early stage but if successful could see the company, which is a major employer in Peterborough, valued at several billion pounds.

Matthew Donaldson, chief executive of The BGL Group.

Matthew Donaldson, chief executive of The BGL Group.

However, bosses of the firm, headquartered in Bakewell Road, Orton Southgate, were at pains today to underline the fact that a decision on whether to proceed with a listing had not yet been taken.

A spokeswoman for BGL, which owns the UK’s biggest price comparison site, comparethemarket.com, said: “The BGL Group can confirm that it is considering listing on the London Stock Exchange.

“However, at this point, no decisions have been made and there can be no certainty that any process will be formalised.”

BGL employs 1,300 people in Peterborough.

It was founded in 1992 and its UK-based businesses also include Junction and Beagle Street. It also owns French price comparison website, LesFurets.com, and Netherlands price comparison business Hoyhoy.nl

Comparethemarket.com was created 10 years ago and was made famous with its TV adverts featuring talking Meerkat puppets.

Last year, BGL reported revenue of £507 million and with pre-tax profits at £94 million, up from £88 million in 2013.

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