Esure denies buyout report

It made the statement in response to a Sky News report earlier in the day suggesting it was being circle by private equity firms and overseas insurance groups amid signs its founder may be willing to sell his 30% shareholding.

The buyout groups, which were thought to include New York-based investment firm KKR, have reportedly been exploring takeover bids for Esure in recent weeks.

Esure said it “continues to focus on its strategic review of Gocompare.com Holdings Limited, as announced on 7 June 2016, in order to maximise value for all shareholders and will announce the results of the strategic review in due course”.

Sky had said it was unclear on whether any formal approaches have been made to Esure's board since its 7 June statement, or whether KKR's interest continued to be active.

At 1245 BST, Esure shares were up 6.8% to 278.40p.