by Angelique Ruzicka
Chaucer is clearly basking in the limelight it’s been getting over a potential sale; its shares rose 15.54% to 42.75p this week.
Novae may have bowed out of the race to acquire its rival, but other interested parties are reported to include Brit; Pamplona Capital Management, a European private equity house and hedge fund; and another unnamed private equity group. Chaucer said discussions were continuing with a number of parties.
Perhaps the market is not too enthusiastic about Brit’s chances as its shares dipped nearly 3% to 179.25p.
It was a good week for the banks and life insurers. Shares in Aviva were up 26.83% to 251.25p, Pru rose 24% to 346.75p, Barclays increased 26.84% to 115.30p, while Lloyds TSB rose by almost 25% to 58.8p.
Insurance stocks on the Alternative Investment Market were relatively flat, although Gable Holding’s shares dipped 10.81% to 4.12p.
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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