The insurance group that owns Compare The Market is considering floating the business on the London Stock Exchange in an IPO that could value it at more than £2bn.
While the exact timing is still to be confirmed, there are rumours that the Compare The Market IPO could come to market before year end.
BGL Group, who owns other consumer insurance brands, including Budget and DialDirect, and produce white-label insurance for the likes of M&S Bank and the Post Office, has hired Rothschild to advise.
About Compare The Market
comparethemarket.com launched in 2006 as a car and van insurance comparison site offering customers the chance to compare quotes from a range of providers. Over the years it has grown and developed, introducing new products including home insurance, bike insurance and money products, such as credit cards, mortgages and loans.
In January 2009 comparethemarket.com launched a new marketing campaign that changed the face of the company. Aleksandr Orlov, with his meerkat comparison site, has been a phenomenal success and has helped build comparethemarket.com into a household name.
In September 2012 comparethemarket.com.au was launched to give customers in Australia the same opportunity to compare insurance prices from a range of providers.
In 2013 comparethemarket.com was voted Best Website in the Comparison Sector by websiteoftheyear.co.uk. The Website of the Year award is the online people’s choice award initiative by online market research agency MetrixLab and Emerce.
More details about the Compare The Market IPO will be made available soon.
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Please note IPOs are open to UK residents only.