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Press Release

BGL Group reaches growth milestone: 2 million policies under management

Immediate release: 24 October 2007

The BGL Group today celebrated a major milestone in its ongoing growth, as two million policies are now under management by its businesses. An insurance intermediary for the last ten years, the Group reached the one million-policy milestone just two years ago, illustrating the rapid rate of growth in recent times.

More than half the policies under management are within BGL's affinity business, Junction. Junction has enabled brands like the Post Office®, M&S Money, Bradford & Bingley and yesinsurance.co.uk to launch insurance products to their customers. These policies reached a million in August 2007.

In addition, the BUDGET and Dial Direct brands have 700,000 policies under management, and bike insurance brand Bennetts has in excess of 200,000 policies.

Chief Executive, Peter Winslow, said: "We're so proud that this major achievement for the Group coincides with our 10th anniversary as an intermediary. The Group originally launched as an insurer in 1992 but took a major change in direction five years later. The exponential growth we are seeing in our policy numbers is a direct result of that strategic change. We are truly seeing the fruits from a repositioning that was not without its risks. It’s testament to the hard work and dedication of the people within the BGL Group that we have achieved so much in a relatively short time."

The BGL Group's current growth is such that it estimates reaching the three million policies mark in 2008. The Group has also expanded in terms of employees - from 1500 people last year, to around 2250 to date.