It’s more than a year since Markerstudy Group declared its acquisition of BGL Insurance (BGLi) and today the group has revealed that following a strategic review, BGLi CEO Peter Thompson will be stepping down from his role and leaving the industry on Feb 28, 2023.
In a Press release, Markerstudy stated that the decision, which was attained mutually, will see Kevin Spencer, group CEO of Markerstudy, assume the role in the interim, supported by the existing management team.
Commenting on the news, Spencer thanked Thompson for the “vital role” he had played in the construction BGLi into a successful business and for his support during the integration process. He added that Thompson, “goes with our very best wishes for the future.”
Thompson also commented on his decision to step away and said: “I am immensely proud of the part I have played in building such a strong and successful business. After 15 years at BGLi, I have decided to move on, but I am pleased to be leaving it in such good hands. I’m confident Markerstudy will be excellent custodians for BGLi as it embarks on the next stage of its voyage.”
Looking at what’s next for Markerstudy, Spencer said he is “hugely excited” by the opportunities ahead. It’s not just business as usual, he said, but business better than normal. Key areas of focus include the group’s plans for developing its IT infrastructure and a range of new initiatives that will come on stream in 2023 to provide market-leading end-to-end solutions to customers while further developing its market presence.
“Additionally we have a continued appetite for acquisitions where they align with our strategic intent,” he said. “The market is continuing to reduce and I am optimistic that Markerstudy will be a major player in the process during the next phase.”