LONDON, June 17 (Reuters) - TA Associates is preparing to put Netrisk Group, one of Hungary’s largest price comparison companies, up for sale, three people familiar with the matter told Reuters.

The Boston-based buyout fund has hired Morgan Stanley to advise on a possible sale of the business, which specialises in comparing the prices of insurance products for consumers, two of the people said, speaking on condition of anonymity.

Netrisk, with headquarters in Budapest, could be valued above 500 million euros ($535.80 million) in a sale, one of the people said.

The deliberations are at an early stage and a sale process could launch after the summer, a second person added.

Representatives for Morgan Stanley and TA declined to comment. Netrisk did not respond to a request for comment.

TA Associates bought a partial stake in Netrisk in 2020 from MCI Group for about 235 million zlotys ($57.77 million). TA Associates has since become the majority owner, while MCI maintains a minority stake in the company.

Netrisk has expanded into Austria through its acquisition of Durchblicker in 2022, and combined with Bauer Media Group’s online comparison platform in 2023.

Netrisk describes itself as the largest independent online insurance broker in Hungary, offering vehicle policies along with home and travel insurance. ($1 = 0.9332 euros) ($1 = 4.0681 zlotys) (Reporting by Amy-Jo Crowley, Editing by Anousha Sakoui and Louise Heavens)