Insurance multi-millionaire Neil Utley has emerged as a 3% shareholder in payday lender Non-Standard Finance, according to This is Money.
Utley’s stake is worth around a cool £2.1m, a small slice of his estimated £250m fortune.
The firm has struggled this year, with profit warnings and shares tumbling to an all-time low.
Utley made his money after leading the revamp of Hastings from small-time broker to one of the largest motor and home players on price comparison sites.
He also bought a major shareholding in stockbroker Peel Hunt.
The 57-year-old made headlines in 2014 after snapping up David and Victoria Beckham’s ‘Beckingham Palace’ country mansion for £11.million.
Utley has used his wealth on a wide variety of tastes including backing fledlging musicians, buying a golf courses and a holiday park.
Lloyd’s censured Utley and he faced £130,000 in costs following under-reserving at Lloyd’s insurer Equity, which he was in charge of between 2005 and 2010.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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