The sale of 14.4m Benfield shares has earned its directors and staff £38m, said reports.
The reinsurance broker's head of US operations Rod Fox cashed in 2.2m shares raising £5.9m, reducing his stake in the company from 3.43%to 2.51%. It was his second stock sale since the company was floated last year.
Benfield chairman John Coldman and finance director John Whiter sold 5.32m shares, raising £14.1m.
The company's chief executive Graham Chilton did not sell any of his 9% stake worth £58m but General Electris sold its 6.7% holding, worth £43m.
Benfield employees and former employees raised almost £24m by selling off 9m shares.
