Esure and Gocompare go their separate ways

Shares in Gocompare.com were admitted during the morning to the premium segment of the Official List, and to trading on the main market of the London Stock Exchange.

"The process of demerging Gocompare.com from esure Group has now been completed,” said chairman Sir Peter Wood.

“Both businesses will benefit from being able to focus on their distinct strategies, with Gocompare.com operating as a leading UK price and product comparison website and esure Group as a leading UK provider of motor and home insurance.”

Stuart Vann, CEO of esure, said as outlined at the company’s first half results, esure was continuing to make “excellent progress” across its strategic initiatives.

“In the first half of 2016 we grew gross written premiums by over 16% and we remain very well positioned for further growth in our market.”

Matthew Crummack, CEO of Gocompare.com, said it was an "exciting moment".

"We are looking to build on the positive momentum and growth created under esure Group's ownership - focusing and executing against our strategy and operating plan. Over time we want to accelerate our business growth, delighting our customers by making it easier to save money and time," Crummack said.