Beazley has raised £350m in a recent share placing, as directors including the CEO build up their stakes in the insurance group.
The placing, organised by JP Morgan and British broker Numis, has seen 9.99 per cent of the company’s share capital sold off to directors and investors.
Buyers took advantage of an around eight per cent discount on Beazley’s share price, bagging shares for 575p a piece instead of the group’s 625p closing price yesterday.
CEO Adrian Cox acquired more than 26k shares in the capital raise.
Meanwhile, chair of the group’s audit and risk committee, John Reizenstein and co-chair Nicola Hodson snapped up around 6k collectively.
Just last week, Beazley reported that its premiums rose more than 20 per cent to $3.9bn (£3.3bn) in the nine months to the end of September, as a result of significant growth in all of its divisions.
However, its premium rates on renewal business slowed. Activity in the division increased 17 per cent – lagging slightly behind last year’s levels.