The buyside and sellside have broadly welcomed a report from the Association of British Insurers calling for an overhaul of the way IPOs are run in the City of London, despite some remarks over the late entry of the UK's most influential shareholder body to the debate.

The ABI's intervention comes two years after BlackRock, the world's largest asset manager, published an open letter to the largest investment banks in the City of London decrying the "increasingly aggressive" behaviour of some bankers running initial public offerings in the UK.