Hastings Direct could float as early as January 2012 after appointing Lexicon Partners as advisers.

The stock market listing will value the broker at about £500m, according to the Mail on Sunday.

Chairman Neil Utley is expected to pocked around £150m.

Hastings has been preparing the flotation by adding a number of senior executives to its board in recent months.

Former helphire chief executive Mark Adams joined as chief financial officer in May. He wss joined shortly after by Tobias van der Meer, previously a managing director at moneysupermarket. com.

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