The insurance broker Howden Group is lining up one of Britain's most prominent businessmen as its next chairman as it plots a public listing in the coming years.
Sky News has learnt that the privately owned company - which is named after founder and chief executive David Howden - is in advanced talks to appoint Sir Jeremy Darroch to the role.
Insurance insiders said Sir Jeremy, who spent 13 years as chief executive of Sky before stepping down in 2021, would be tasked with steering Howden Group towards and through a stock market flotation.
A listing would be likely to value it at as much as £20bn including debt, depending upon its performance in the coming years.
Last year, Mr Howden said internal share trading activity implied a valuation of well in excess of £10bn.
The recruitment of a heavyweight business figure as its chair is likely to be welcomed by public market investors as they become familiarised with the company prior to a flotation.
Sir Jeremy, who also chairs the FTSE-100 consumer goods group Reckitt, left Sky News' immediate owner after a short stint as executive chairman.
He will replace Dominic Collins, an insurance industry veteran who has chaired Howden Group since 2015, in the coming months.
Mr Collins is expected to retain an honorary role with the company.
Howden, which has gained wider prominence by sponsoring the British and Irish Lions rugby union team, has bulked up through an acquisitions spree which has seen it taking on substantial amounts of debt.
It has also raided a number of rivals for senior executives as part of an industry-wide poaching war.
The company is currently contemplating a multibillion-pound capital-raising which could involve selling equity to sovereign wealth funds and overseas pension funds.
Mr Howden has said publicly that an initial public offering (IPO) will take place by 2030 at the latest, although some in the industry believe it could come as soon as 2028.
Stock exchanges in London and New York are expected to battle to host the listing.
Howden declined to comment.
(c) Sky News 2026: Insurance broker Howden Group lines up Darroch as chairman ahead of float
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