First Central Group Ltd., a UK vehicle and home insurer, has appointed investment banks as it prepares for a potential initial public offering in London, according to people familiar with the matter. The company, which specializes in motor and home insurance, is taking steps toward a stock market debut that could value the business at hundreds of millions of pounds.

This move comes as the UK IPO market shows signs of revival after a prolonged drought. First Central has been expanding its customer base and digital capabilities, positioning itself as an attractive prospect for public investors. The insurer operates through a network of brokers and has built a reputation for competitive pricing in the UK insurance sector.

The decision to go public reflects broader industry trends, with insurers seeking capital to fund technology investments and expand market share. A successful IPO would provide First Central with fresh funds to pursue growth opportunities and potentially fund acquisitions. The timing suggests management sees favorable market conditions for insurance sector listings.