Beazley director sells £2m worth of shares
Johnny Rowell, a director at insurance company Beazley sold more than £2.8m worth of shares in the company today, cutting his stake to less than 1%.
Rowell, who is responsible for 'speciality lines', including areas of insurance such as terrorism and extortion, sold 1,666,097 shares at 170p each. He now holds 3,237,912 shares, or around 0.9% of the company.
Beazley reported record profits for 2007 on Tuesday, helped by a lack of major catastrophes limiting the payouts it had to make.
Profits for 2007 came in £138.5m, well above market forecasts, and 60% higher than 2006. Gross premiums rose by 5% to £780.5m with net written premiums up 14% at £652.2m.
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Top Director Sells
Beazley Group (BEZ)
Director name: Mr Jonathan Rowell
Amount sold: 1,666,097 @ 170.00p
Value: £2,832,365
