Following the MGA’s acquisition last year, BGLI’s associate director believes now is the ‘ideal opportunity’ to link up
BGL Insurance (BGLI) has added MGA Somerset Bridge Group to its insurer panel - the digital-centric intermediary now has 17 panel partners.
Increasing the diversity of its insurer panel aims to support BGLI’s growth plans, as well as help its brands to reach more customers.
Iain Belson, BGLI’s associate director of insurer engagement, said: “Somerset Bridge will add an important new dimension to our insurer panel as we look to increase both customer footprint and capacity.
“The strength of our insurer panel helps us to stand out in what is an extremely competitive market, giving us the flexibility to reach as much of our target market as possible.
”The addition of Somerset Bridge, which shares our own ambitions for growth, is extremely positive for us both.”
The intermediary further hopes that Somerset Bridge will help to significantly boost competitive quotability across several of its key driver demographics, specifically those between the ages of 25 to 45.
It follows Markerstudy buying BGLI last month.
Ideal opportunity
BGLI has three million customers, as well as links with some of the UK’s key household names across banking, retail and motoring to sell car, commercial vehicle, home and life insurance to customers.
Somerset Bridge specialises in underwriting private car and small commercial vehicles and has a strong focus on using data to drive the best prices for customers.
Belson continued: “Somerset Bridge has been going through some of its own changes following its acquisition and so now is the ideal opportunity for us to link up and drive growth to help realise both of our ambitions.”
Somerset Bridge was bought by Arch Reinsurance back in June 2021, when the reinsurer bought Arron Banks’ companies, including Southern Rock. Arch Re’s purchase of Somerset Bridge completed in August last year.
Lisa Allan, Somerset Bridge’s director of operations, added: “BGL Insurance manages motor insurance for some of the UK’s most loved brands and having positioned Somerset Bridge strongly in the market, I’m confident that together we can support the goal of increasing its customer footprint.”
Belson said: “As a business, we continue to set ourselves challenging targets to deliver the very best customer experience, as well as the strongest possible growth. To do this, it is vital our insurer panel continues to be market leading, providing our motor insurance brands and customers with the most competitive rates.”
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