BGL eyes London float for Compare The Market
BGL Group is considering a London listing for its insurance comparison business Compare The Market, according to media reports.
Rothschild is advising BGL and has asked banks to pitch for the lead role of global co-ordinator, The Telegraph reported.
The initial public offering could value the business at £2 billion ($3.4 billion), according to estimates, although discussions are still continuing on what would be included in the float.
BGL is owned by South African-based conglomerate BHL.
In Australia, Comparethemarket.com.au was introduced in 2012 by Compare The Market, following the launch of the UK version in 2006.
Sydney-based company Ensurance said today it had entered an agreement that would see its home and contents insurance product included on the comparison website.
“This is an exciting opportunity for us to partner with a like-minded digital associate that is disrupting the insurance industry,” Ensurance MD Stefan Hicks said.