9th May 2016 10:52
LONDON (Alliance News) - Insurer Beazley PLC on Monday said Head of Specialty Lines Adrian Cox and his spouse Elaine O'Connor Cox, each purchased 3,250 shares at a price of 338.32 pence per share last Friday.
Following this transaction, Adrian Cox holds a beneficial interest in 752,705 shares, representing approximately 0.14% of the issued share capital.
Beazley last Thursday said premiums grew in the first quarter, boosted by the continued expansion of its underwriting teams.
The company said premiums in the quarter to the end of March grew 7.0% year-on-year to USD583.0 million from USD546.0 million a year earlier. Growth was driven by its Specialty Lines business, which saw premiums grow 15% year-on-year, and from its newly-formed healthcare small business team.
Rates on renewal business declined 1.0% across the portfolio in the quarter amid a competitive rates environment, the company said, though renewal rates did grow in its Specialty Lines business.
The stock was up 2.2% at 345.50p Monday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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