Aurora Corporate Services, which rose from the ashes of Independent Insurance, is working for a number of composite insurers.

Aurora chief executive Ken Blanc, speaking exclusively to Insurance Times, revealed that Aurora had already started acquiring "small chunks of work on short term contracts" from composite insurers, It is administering 4,000 policies for one and claims work for another.

He said the acquisition of such work was vital if key staff were to be retained for the forthcoming sale.

"They'll only stay on if there's a sense of corporate future," he said.

Blanc said the sale of Aurora has become viable sooner than anticipated. "We got Independent into a good position much quicker than expected," he said.

"The time is now right because of the leads we're generating in the marketplace, which is due a lot to the good will from people who left Independent."

Capita and Rubicon are understood to be at the head of the bidding queue, but Blanc said Aurora could move to a sector other than insurance.

When liquidator PricewaterhouseCoopers (PWC) made redundancies following Independent's collapse last year, it retained claims, underwriting, IT, HR, legal, consultancy and credit control staff.

"We're already doing third party IT work for a client not in the insurance or financial services sector, so I wouldn't rule it out," Blanc said. He said Aurora and PWC were already in talks with a number of buyers, with more approaching after news of the sale broke last week. Figures have not yet been discussed.

Blanc was adamant the company would not be broken up and sold in parts. He said he and his management team would look for a buyer with whom Aurora had synergy in both culture and business opportunity.

Blanc said the management team would not receive an equity stake or financial incentive on the sale of the company.