Investors in Direct Line, who voiced over-valuation fears ahead of its London listing this week, have seen the insurer deliver the biggest pop for a UK company of its size in over a decade.

Direct Line's £787.5m initial public offering on the London Stock Exchange yesterday was notable for a number of reasons: it was the largest European IPO since Dutch cable firm Ziggo listed in March for $1.2bn; it was the largest London-listed IPO since acquisition vehicle Vallares' $2.1bn float in June 2011; and it was the largest listing of a UK corporate since the £2.4bn IPO of financial group Standard Life in 2006.