Esure Group announces strategic review leading to a potential demerger of iStock

Esure Group is considering demerging its price comparison website as part of a strategic review of its operations.

Announcing the move on Tuesday (7 June), the London-listed insurance provider – which took full control of as recently as April 2015 – said the website's cost base had been restructured, and focus given to a wider range of products.

"These actions have underpinned the board's confidence in its guidance for a 20-30% improvement in's profitability in 2016."

The company did not provide a finite timeline for the review, merely noting that it would update shareholders in "due course".

In a related development, the company also named Matthew Crummack as its new chief executive.