Independent Insurance's liquidators are in talks with potential buyers for the failed insurer's run-off company Aurora Corporate Services.
A successful deal will launch Aurora as a claims management company.
On 2 August Pricewaterhouse-Coopers (PWC) liquidator Dan Schwarzmann and Aurora chief executive Ken Blanc told staff of a possible sale at a meeting.
They said they were in negotiations with "a small number of potential partners".
PWC confirmed yesterday that the deal was designed to allow Aurora to attract the investment capital it needed to take on the rest of the claims management market.
Insiders have touted outsourcing companies Rubicon and Capita as potential buyers, particularly as Capita snapped up one of Independent's senior London Market claims managers soon after Independent's liquidation.
Schwarzmann said the sale would "maximise returns to Independent's creditors and allow Aurora's management to develop their business".
He said there had been "considerable interest" from buyers as soon as Aurora was put on the market.
Blanc, an ex-Independent employee, said any potential purchaser would have to give evidence of their ability to maintain the current service level to Independent's creditors.
Sources said the sale would relieve PWC of Aurora's high running costs.
"The lease at Minster Court is very expensive and the senior staff are highly paid - you're talking an average of £70,000 or £80,000 each - so it's a big drain on expenses," the source