The European account is believed to include activity in France and the Netherlands, but the bulk of the business is focused in the UK, worth £60 million in spend. Over the next three years, BGL Group has ring-fenced £300 million for its media budget.
BGL’s media account also includes all the on and off-line planning and buying for other insurance brands lesfurets.com, verzekeringsite.nl, Bennetts and Beagle Street.
The review, brokered by AAR, follows "significant investment" by BGL Group in both its UK and international business.
WPP's Mindshare and Omnicom's OMD are believed to have been knocked out of the process at an earlier stage.
Calling the review in January, Kal Atwal, group director of brand-led businesses at BGL Group, said the aim was "to ensure we maximise future market opportunities". She added: "We are in the unusual and fortunate position that there is enormous potential for growth in every market where we operate."
The news is another blow for ZenithOptimedia, which has handled the account since 2007. It comes amid a transition at the Publicis Groupe agency led by global managing partner Belinda Rowe.