Utley and private investors snap up 25% share in Peel Hunt, worth around £18.5m

Insurance entrepreneur Neil Utley and private investors have snapped up a 25% stake worth around £18.5m in stockbroker Peel Hunt.

Former IAG UK chief executive Utley’s consortium completed the buyout of Peel Hunt on Friday from former owner KBC, a Belgian bancassurance firm.

Utley’s group snapped up a 25% share, with the rest taken up by employees. The deal was first announced in July

Peel Hunt is valued at £74m, a third of the value of £218m KBC bought it for in 2001, according to City AM.

Utley is chairman of Hastings Direct, which he plans to float in 2012.

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