Reinsurance broker Benfield Group has generated $27.7m (£16.7m) after selling most of its shares in Montpelier Re.
Benfield announced earlier today that it has disposed of 947,479 common shares in Montpelier Re. On 13 June Benfield Group revealed plans to sell its entire holdings of 1,500,000 common shares in Montpelier Re Holdings.
The disposal leaves Montpelier with 552,521 common shares in the Bermuda reinsurer.
