Departing founder had not taken an active role for some time

Douw Steyn, founder of broking firm BGL Group, has stepped down as non-executive chairman.

Steyn, a South African businessman, founded BGL Group’s UK insurance underwriting business in 1992 and oversaw its move into broking in 1997.

BGL is perhaps best-known in the UK for its comparethemarket.com price comparison brand. It also owns motorcycle insurance broker Bennetts and car, van and home insurance broker Budget.

“We can confirm that Douw Steyn is no longer formally listed as a BGL Group director,” a spokesman said. “Douw was the Group’s founder and played a pivotal role in our early years. It is, however, some time since he took an active role in the BGL Group business, so this change was an administrative one rather than a strategic move.”

BGL is not seeking a replacement chairman, and will run its board without one.

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