BGL Group mulls IPO on LSE

BGL Group, the insurance company that owns price comparison website Compare The Market, is mulling a flotation on the London Stock Exchange.

The group has hired Rothschild to advise on a possible initial public offering that could value it at more than £1bn.

The company, however, stressed that no decision has been made yet on whether to go ahead with the IPO.

BGL, owned by global insurance firm BHL Group, has become one of the UK’s largest consumer insurance brokers since it was founded in 1992 with more than eight million customers.

It reported a pre-tax profit of £94m and revenue of £507m for the year to June 2014.

BHL Group plans to maintain a majority stake in BGL should it float the business.