Esure appoints brokers for IPO, say sources

Esure has appointed corporate brokers Canaccord and Numis as it prepares for a flotation, according to sources.

The group is considering sending off a formal application to float in the coming days, according to The Financial Times.

Sources have estimated that Esure should value its equity at approximately £1bn. Esure founder Peter Wood is said to have been spurred on by the success of Direct Line’s flotation last year.

An Esure spokesman would not comment.