Martin Hughes doubles stake in Esure to 10%
Martin Hughes has doubled his stake in insurance firm Esure, ahead of the split from Go Compare. Hughes now controls a 10% stake, worth around £65m. Esure's shares have risen 24% in the past year, but it is unclear what Hughes' and Tosca's intentions are for the company.

The Rottweiler doubles his stake in Esure to £65m just weeks before its Go Compare arm is split off

The hedge fund boss dubbed The Rottweiler has doubled his stake in insurer Esure just weeks before its Go Compare arm is split off.

Advertisement

Martin Hughes, who runs Toscafund, is now one of Esure's biggest shareholders, with a 10 per cent stake worth £65million.

It is not known what Toscafund's intentions are with Esure, whose shares have lifted 24 per cent in the past year, but the firm and Hughes have built reputations for pushing for change at the businesses they invest in.

Toscafund has raised its stake in Esure over the past few months from 21.5million to 41.9million shares.

It comes after Esure revealed it was to split from online comparison site Go Compare.

Esure will list Go Compare, which it took control of two years ago, to create a 'standalone digital technology business'.

Chairman Peter Wood, the biggest shareholder in Esure with a 30 per cent stake, will remain at the top of both companies.

Toscafund said no one was available to comment.

The Rottweiler doubles his stake in Esure to £65m just weeks before its Go Compare arm is split off Facebook

Twitter

e-mail

e-mail

e-mail

WhatsApp

flipboard

fbmessenger

native

2 shares