UK insurer Acorn's owners explore strategic options, Bloomberg News reports
Feb 10 (Reuters) - The owners of British specialist motor and home insurer Acorn Group are exploring strategic options for the company, including a controlling stake sale or an IPO, Bloomberg News reported on Tuesday, citing people familiar with the matter.
The insurer's shareholders, which include UK-based private equity firm Inflexion, could seek a valuation of 1 billion pounds ($1.36 billion) or more, the report added.
Acorn and Inflexion declined to comment, while Continuum Partners, which is working as the adviser, did not immediately respond to a Reuters request for comment.
The specialist insurance broker offers policies for public and private taxis, cars, young drivers and home insurance for unusual situations, such as homes at risk of flood.
The shareholders, along with the adviser, are working to gauge interest from buyers for a potential sale process, the report said.
($1 = 0.7330 pounds)
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