UK market takes on its critics as Esure launches £500m deal

Esure, the UK motor insurer, launched an up-to £500m IPO on Wednesday, shrugging off the prospect of a lengthy period of market volatility. But, in what has become a familiar, if aggravating, ritual for bankers managing UK floats, the intention-to-float was accompanied by warnings from a vociferous domestic element about pricing — despite an increasingly positive track record.