Esure founder and chairman Peter Wood is understood to have delayed any decision to exit the company until the financial markets settle. Insurance Age's sister magazine Post said it believed Mr Wood, who set up the company in 2001 with the support of Halifax Bank of Scotland, had a clause in his contract that would allow him to trigger a flotation or sale of the insurer this year. However, he is thought to have put this on hold due to the global credit crunch.

The Chartered Insurance Institute

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