A buyer is yet to be announced for niche insurer Pavilion Insurance Network.

But over the past week Rock Holdings has bought a total of 2.75m shares, lifting its stake to 7.3% from 1.87%.

Rock Holdings, which paid between 10p and 10.25p per share, now has a total of 3.7m shares in the insurer.

Pavilion last week admitted it was in talks with a potential buyer.