Bauer expands its footprint in Nordic OCP market

Bauer Media Group’s OCP (Online Comparison Platform) subsidiary Zmarta Group has completed the acquisition of Swedish insurance broker Insplanet AB.

Bauer expands its footprint in Nordic OCP market

Insplanet is the Swedish market leader in comparison of insurances for consumers through the platform. Zmarta is the leading online comparison platform (OCP) for personal finance services in Scandinavia, including personal loans, mortgages, electricity and insurances. Both platforms increase transparency on the market without any hidden fees, says Bauer Media.

The acceptance period for Zmarta Group’s offer had been extended until November 21. Shareholders representing 98.0 percent of the total number of shares and votes have accepted the offer. The remaining shares will now be acquired by means of a compulsory acquisition procedure.

The investment complements Bauer Media Group’s existing operations in Finland, Norway and Sweden (Zmarta), the Czech Republic and Slovakia (NetBrokers Holding) and Poland (Rankomat), and makes Zmarta the leading online comparison platform for personal finances in the Nordic countries.

Björn Lander, Global Business Area Head OCP at Bauer Media Group: “Bauer Media Group has over the last three years acquired and built up a strong OCP business. Insplanet has in-depth experience of digital insurance services in Sweden; Zmarta holds a strong position in Sweden, Norway and Finland. Joining forces now creates a very good foundation for us to expand in and change these markets: Zmarta can now offer the best platform for the three main areas of household expenses – insurances, loans and electricity. The next step is to expand these verticals in our key markets and make use of the great expertise available at both companies, in order to offer the very best online comparison services”

Tomas Jonson, CEO of Insplanet, adds: “Online comparison platforms have increased the transparency in many markets already, but we still see substantial potential in the Nordic insurance market. Nordic consumers do not use these online services to the same extent as other European consumers, and the Nordic insurance market is not sufficiently transparent. Combining our platforms will give the consumers useful pieces of advice in a proactive manner, and at the same time the users will get a better overview of their personal finances.”