CEO Peter Thompson leaving BGL

Markerstudy completed its purchase of BGL Group in May 2022, after plans for the deal were first revealed in January 2022 for a reported £400m. The takeover added 1,700 staff to Markerstudy’s headcount and 3m customers to the group.

According to Markerstudy, Thompson’s decision to leave followed a “strategic review”, and was reached “mutually”.

Kevin Spencer, Markerstudy Group CEO, will take up the CEO role “in the interim”, supported by the existing executive team, Markerstudy stated.

Asked about future plans for a replacement or if the business was considering dispensing with the post, a spokesperson told Insurance Age: “Whilst Kevin is interim CEO for BGL Insurance, it’s all under review.”

Roles

Thompson, pictured, joined BGL Group in 2008 as managing director of its affinity outsourcing business, Junction.

He was made group director for insurance and legal services in 2013, becoming CEO of insurance, distribution and outsourcing in 2018, and ultimately BGL Insurance CEO in 2021.

Prior to BGL, he spent 21 years in both commercial and personal lines, including at RSA, where he was responsible for non-motor personal lines corporate partnerships, and HBOS where he was initially head of commercial insurance and subsequently managing director of partnerships.

Support

Spencer said: “I would like to thank Peter for the vital role he has played in building BGL Insurance into such a successful business, and for his valuable support during the process of integrating it into the broader group. He goes with our very best wishes for the future.”

Thompson added: “I am immensely proud of the part I have played in building such a strong and successful business. After 15 years at BGL Insurance, I have decided to move on, but I am pleased to be leaving it in such good hands.”

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