Esure has confirmed that it intends to demerge aggregator Gocompare.com through a separate listing on the London Stock Exchange.
The deal was first reported in June when the insurer said it was undertaking a strategic review.
The delisting is conditional on the approval of Esure shareholders and subject to regulatory approval.
If passed esure anticipates the demerger will happen in the final quarter of this year.
The provider said it anticipated costs from the demerger to be around £19m.
The editorial team get their teeth into the top stories.Subscribe to our daily newsletter for all the latest news
- FCA warns of Moneysupermarket clone
- Documents reveal government actuary recommended a 0.25% discount rate
- Construction firm unable to find insurance due to lack of capacity
- Fact file: What’s the story with the Ogden Rate?
- Hastings expects £8.4m hit from Ogden rate change
- Insurers disappointed by the new discount rate
- Blog: What is JCT 21.2.1 insurance, and who needs it?