Lloyd's insurer Chaucer Holdings has revealed that its directors bought many of the shares up for grabs during its recent placing and open offer.
Managing director Ewen Gilmour bought 150,000 shares, increasing his holding to 0.17% of the company. Underwriting director Robert Stuchbery also purchased 150,000 shares, taking his total holding to 0.45%.
Chairman Martin Gilbert raised his total holding to 61,109 shares, or 0.02%. Meanwhile finance director Edward Noble increased his shareholding to 0.02%.
As well as bankrolling "acquisitions of further non-aligned capacity", Chaucer said the proceeds from the rights issue would enable it to increase capacity on its marine syndicates, to take advantage of buoyant rates.
At the time of the offer's launch, managing director Ewen Gilmour said: "This funding is an important step of our strategic growth at a time of excellent underwriting conditions. It will enable us to take advantage of these."
