Esure set to float for £1.1bn

Esure, the internet and telephone based insurance company, will seek to float up to 50 per cent of its share capital offering at a price range of 240 to 310 pence per share. The sale would raise around £50m for the firm, and see it valued at £1.1bn. The float is due to be completed by 22 March.

Esure was founded by Peter Wood in 1999 and became well known for its "calm down dear, it's only a commercial" adverts with Michael Winner from 2002 to 2005 and 2007. The firm now insures approximately five per cent of British motorists.