Esure on the flotation trail, says Electra

Motor insurer esure is looking at a stock-market flotation early next year, one of its main shareholders confirmed yesterday.

"After the successful flotation of Direct Line recently we are certainly considering an initial public offering," said Tim Syder, a partner at Electra Private Equity, which backed the original £270m management buyout of esure from Lloyds Banking Group two years ago. The final decision lies with esure founder and largest shareholder Peter Wood.