6th May 2016 14:32
LONDON (Alliance News) - Lancashire Holdings Ltd on Friday said Chief Executive Officer Alex Maloney bought 18,955 shares at 526.5 pence per share Thursday.
Following the purchase, Maloney holds a total of 445,516 shares in the FTSE 250 non-life insurer.
Lancashire Holdings on Thursday reported a drop in pretax profit in the first quarter of 2016 as gross premiums written also fell in a "tough" underwriting market.
The insurance company said pretax profit in the three months ended March 31 dropped to USD26.5 million from USD51.5 million in the same period the year before, as gross premiums written fell to USD230.8 million from USD244.3 million, in what Maloney described as "a very tough underwriting environment".
The stock was up 1.8% at 550.00p Friday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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