Four months after Goldman Sachs and Macquarie Capital were appointed to lead the potential initial public offering of Greenstone Financial Services, fund managers have received a flurry of pre-float research reports singing the low-profile insurance distribution company’s praises.

Greenstone is the holding and distribution company for Hollard Financial Services, online comparison site Choosi, Guardian Insurance, Hollard Administration Services, Real Insurance and niche pet, funeral and income insurance brands.

Last week Goldman Sachs, Macquarie Capital and co-leads Citi, JP Morgan and Deutsche Bank issued pre-float reports to fund managers before an expected float next month.

Goldman Sachs has valued Greenstone’s equity at $1.54-$1.86 billion; Macquarie says $1.61-$1.85 billion.

Last August Greenstone appointed former Bankwest retail EGM Mark Reid as CEO, which some observers took as a significant step towards listing this year.

Mr Reid moved from Perth to Sydney to take up the position.

Hollard Australia Group founder and CEO – and Greenstone Chairman – Richard Enthoven told insuranceNEWS.com.au at the time that Mr Reid had “a fantastic record of building financial services distribution capabilities”.

Mr Enthoven foreshadowed a period of expansion. “We intend to build on Greenstone’s distribution capability more broadly in the financial services market and Mark’s experience will be invaluable.”

Mr Enthoven declined to comment for this article.