esure plans to demerge Gocompare.com Holdings - to be re-named Gocompare.com Group - from the group through a separate listing on the main market of the London Stock Exchange.
The proposed demerger is conditional on the approval of esure shareholders, and subject to shareholder and relevant regulatory approvals.
The esure board intends to recommend that esure shareholders vote in favour of the demerger, which, subject to the receipt of all required approvals, is expected to occur in Q4 2016.
Chairman Sir Peter Wood said: "Following the strategic review and the appointment of Matthew Crummack as CEO of Gocompare.com, we believe that a demerger of Gocompare.com from esure will allow both entities to thrive and reach their full potential.
At 8:24am: (LON:ESUR) esure Group plc share price was +6.15p at 293.35p