esure plans £50m stock exchange flotation

Esure founder and chairman Peter Wood

The UK motor and home insurer, founded by chairman Peter Wood, confirmed that it would raise £50m to pay off existing debt in the form of loan notes to the investment company set up for the original management buy-out from Lloyds Banking Group in February 2010.

The offer will include the sale of existing shares but Mr Wood will retain a significant shareholding through the deal and remain esure's largest shareholder.

The news came as the provider revealed a pre-tax profit of £115.5m for 2012, up

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: