Chartis insures Gallagher and Heath deal
Heath Lambert chief executive Adrian Colosso scooped £964,608 from the London market broker’s £97m sale to Gallagher, regulatory filings reveal.
Chairman Keith Hamill pocketed £482,304m from the deal.
The Appleby Trust – the staff employee benefits fund – received £8.2m for its shareholding.
The biggest winner from the preference shares was Precis (2517) Limited – which was made up of the Government Pension Protection Fund and RBS – scooping £19.5m. A further £3.2m was handed over to Precis from the B shares.
Gallagher bought an indemnity policy from Chartis UK that protects it from Heath reneging on the tax and general warranties laid out in the agreement. A deductible of £800,000 was placed in escrow in case the policy was triggered.
The details were revealed in a Securities & Exchange Commission filing.
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