Motor and home insurer Esure will maintain its stake in price comparison firm Gocompare at 49% for now, despite having an option to buy an additional 1%.
Esure is also in no rush to complete an initial public offering.
Esure Group Holdings 2010 accounts reveal that the company has an option to acquire a further 1% of Gocompare’s share capital which may be exercised at a future date. However Insurance Times understands that at this stage, Esure is happy for Gocompare chief executive Hayley Parsons and her team to maintain day-to-day executive control over the aggregator.
Esure acquired the 49% of Gocompare's shareholding in stages running up to April 2010, and the holding was recorded as a joint venture in Esure's accounts from that date.
Peter Wood, Esure's chairman, said in a press interview earlier this year that he would float the company on the stock market "within three years". However, Insurance Times underrstands the company is keen to get the timing right, and is in no hurry to float.
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