Some of the most recognised brands in consumer finance and insurance are owned by major groups. But do you know which groups owns which brands? Confused.com, Weflip, Myvouchercodes, BeagleStreet, Bean, uSwitch and MoneySavingExpert are all owned by various major corporate groups.
Many of these competing companies are operating in the same or similar market space, and are seeking bolt-on acquisitions to increase growth or gain a foothold in a new market space or to acquire a market-leading technology or business model.
So who are these major groups? Some are household names and others you’ve probably never heard of. We analyse the major groups controlling the household names below.
Admiral Group is the car insurance brand that owns the Admiral brand. However, it also owns confused.com, the car insurance comparison website. It also owns other car insurance brands Elephant and Diamond, as well as a number of car insurance comparison and price comparison sites abroad. Admiral Group has a turnover of £3.3bn and 6.5m customers. It made a pre-tax profit of £500m in 2018.
Most people know GoCompare as the comparison website with the annoying opera singer. However, it also owns MyVoucherCodes, one of the UK’s biggest discount voucher websites. It also owns Energylinx, a domestic and business energy comparison and switching service. On top of that, it owns Weflip. Weflip is a smart savings service that helps people save money by automatically switching them to better energy deals. GoCompare, demerged from eSure last year, has a turnover of £153m, with an operating profit of £37.7m.
You may not have heard of BGL Group. But you have heard of Comparethemarket.com, which is one of its brands. It owns a similar comparison site called LesFurets.com in France. It also owns insurance brands BeagleStreet, Budget Insurance and DialDirect. The Group recently acquired money-saving app Bean. The Group has revenues of £660m, with pre-tax profit of £147m. Across the entire group, it has 9.5m customers.
Again, you may not have heard of ZPG, but you will have heard of Zoopla. ZPG owns the second largest property site in the UK. Alongside Zoopla, it owns PrimeLocation.com. It also owns uSwitch, one of the major comparison and switching websites in the country. It also recently acquired money.co.uk, a leading financial products comparison website. The company boasts revenues of £245m, with operating profit of £96.4m (EBITDA). The comparison brands generated £122m of revenue.
A major financial group, MoneySupermarket runs one of the leading comparison sites, moneysupermarket.com. However, it also owns and operates MoneySavingExpert, the consumer advice website set up by Martin Lewis. Martin sold his business to the group in 2012 for £87m. The group has a turnover of £355m, with pre-tax profits of £106.9m. The Group segments its business into Insurance (revenue of £183m), Money (£88.1m) and Home Services (£49.2m).