Ockham Holdings sold 30% of the shares it made available under an open offer that closed last week.
The rest of the shares were taken up by institutional investors that underwrote the offer in a deal arranged by Numis Securities.
The company will use £23m to increase capacity for its principal operating subsidiary, motor insurer Highway with £3m for the running of the company.
Highway managing director Andrew Gibson was "quite pleased" with the 30% take-up.
"To raise £25m in these market conditions is very encouraging," he said.
Trading in the new shares is expected to start on 12 April.
Hardy's losses are estimated at 4% of capacity, a reduction from its original estimate of 5%.
This equates to less than £2m on its capacity for 2001.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
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.
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.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
