How do you achieve a successful acquisition in insurance?
CUO on what's next for the group
BGL Group: Everything you need to know
|Fusion House, Katharine Way, Peterborough PE3 8BG, United Kingdom|
|Office locations||Peterborough, Sunderland, Wakefield|
|Gross written premiums||Over £300 million|
|Underwriting expertise||Motor, home, and life insurance|
|Key people||Mark Bailie (CEO), Dominic Platt (chief financial officer), Stuart Walters (chief information officer), Peter Thompson (CEO, insurance, distribution & outsourcing), Rachael Gillett (chief people officer)|
About BGL Group
BGL Group operates as a digital distributor of insurance and household financial services to 10 million customers. There are two main divisions to BGL:
The history of BGL Group
In 1992 the foundations of BGL Group were laid by entrepreneur Douw Steyn who established the Budget Insurance Company in the UK. In 1997 the group underwent a transformation from underwriter to insurance distributor and acquired several insurance intermediary brands, celebrating reaching one million policies in 2005.
In 2010 the group began its international expansion with the acquisition of the French brand Courtanet which became Les Furets. In 2018 the group celebrated 25 years of trading and entered the open banking market with the acquisition of digital personal finance manager, Bean.
Since 1992, BGL Group has developed significantly in size and capacity and has grown from 30 employees to more than 1,700. This growth strategy is underpinned by the key values of the organisation which are those of ambition, authenticity, creativity and a united front.
Leadership at BGL Group
Chief executive – Mark Bailie: Bailie joined BGL as CEO in September 2020. Prior to this, he was on secondment from RBS to the government’s NHS Test and Trace programme. He also previously held several roles at RBS during a ten-year tenure with the business, including as CEO of Bó, chief operating officer, and CEO of capital resolution.
Chief financial officer – Dominic Platt: Before Platt joined BGL in 2016, he spent five years as group finance director and managing director of international businesses at Darty Plc. Prior to this, he spent 18 years at Cable and Wireless in a variety of financial roles and he has extensive experience in consumer-focused public companies operating in a regulated environment.
Chief information officer – Stuart Walters: Walters joined BGL as CIO in 2013 and leads the group’s IT functions. He joined BGL following an extensive career with roles at leading global travel business, Kuoni as well as Worldhotels and Opodo.
Chief executive officer, IDO – Peter Thompson: When BGL’s legal services business was sold in 2016, the division was renamed as IDO, and Thompson was appointed CEO. He joined BGL in 2008 as managing director of function and helped to build the business into the most successful affinity outsourcing intermediary in the UK.
Chief people officer – Rachael Gillett: Gillett joined BGL in 2018 in her present role after spending nine years at Thomas Cook. Gillett is CIPD qualified and has extensive human resources experience working with well-known, market-leading brands.
CSR at BGL Group
BGL aims to work closely with its employees to impact community and social development both within the locations in which it operates but also around the world. The CSR strategy of the group is closely aligned with its overall group purpose to ensure responsible operations and the creation of long-term value for society.
Since 2015, BGL has achieved the following through its community initiatives from volunteering to match funding:
As a group, BGL’s CSR strategy operates in three main areas: partnerships, community and personal. The group grows its partnerships by working with charities both local and international to encourage education and entrepreneurship. BGL’s community commitment supports funding, volunteering and events at the five locations through which BGL operates: Sunderland, Wakefield, Peterborough, London and Paris. On a personal front, the business makes it easy for colleagues to make a difference to their chosen causes through match funding, volunteering and payroll giving.
In April 2020, BGL launched an additional £1.5 million community campaign to support good causes impacted by the coronavirus pandemic.
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