Partnership opens up to outside analysts following stellar float

PARTNERSHIP Assurance is expected to invite independent analysts to assess the company’s performance in the coming weeks following Friday’s stellar initial public offering (IPO).

The specialist life insurer, which offers more generous annuities to people with reduced life expectancy, had been criticised by brokers who were not in on the deal for failing to provide them with the access required to let them form an opinion ahead of the float.

In line with common practice, only the banks tied to the transaction produced research and regulations forbid them from publishing it. But independent analysts are expected to be welcomed into the fold after the company begins unconditional trading on Wednesday.

Partnership brought forward its market debut to Friday following strong demand during its investor roadshow. The IPO eventually priced at 385p, near the top of the proposed range, valuing the company at £1.54bn.

Conditional trading then pushed the shares up an impressive 17 per cent during its first day as a public company, meaning the business is currently worth around £1.8bn.

Partnership declined to comment on plans to open its doors to independent analysts.