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Amlin non-exec trebles shareholding

Thu, 04th Mar 2010 16:48
Non-executive director Tony Holt has bought more than £2m worth of shares in insurance underwriter Amlin. Holt bought 500,000 shares at 411.75p each, which takes his shareholding to 759,102 shares. Holt joined Amlin in 1980 and was appointed to the board in 2000. He was group underwriting director between 1999 and his retirement at the end of 2008. Holt became a non-executive director at the beginning of 2009. On Tuesday, Amlin chief executive Charles Philipps exercised 114,050 options at 161.77p a share and sold 95,506 shares at 407.01p each. He retains a shareholding of 588,033 shares. The share dealing follows the release of Amlin's 2009 figures on Monday. Pre-tax profits increased from £121.6m to £509m on premium income up 49% to £1.54bn. The total dividend was increased from 17p a share to 20p a share. The final dividend is 13.5p a share and Holt will be entitled to this on the shares he has just purchased. These figures exceeded forecasts, in part due to a reserve release of £174.1m (£114.7m).KBC Peel Hunt describes Amlin as "the class act of the sector". "Amlin rightly trades at a premium to the Sector", it adds.Top Director BuysAmlin (AML) Director name: Mr A W HoltAmount purchased: 500,000 @ 411.75p Value: £2,058,750New Europe Property Investments (NEPI) Director name: Mr Desmond de BeerAmount purchased: 125,000 @ € 2.56 Value: € 320,000GlobeOp Financial Services (GO.) Director name: Mr Edward AnnunziatoAmount purchased: 44,452 @ 220.40p Value: £97,972Record (REC) Director name: Mr Paul SheriffAmount purchased: 138,103 @ 66.00p Value: £91,148W H Ireland (WHI) Director name: Mr Richard FordAmount purchased: 73,000 @ 38.50p Value: £28,105Aviva (AV.) Director name: Mr Michael Hawker Amount purchased: 5,000 @ 381.34p Value: £19,067Top Director SellsXstrata (XTA) Director name: Mr Michael DavisAmount sold: 230,110 @ 1,066.00p Value: £2,452,973Xstrata (XTA) Director name: Mr Trevor ReidAmount sold: 115,055 @ 1,066.00p Value: £1,226,486Pearson (PSON) Director name: Ms Marjorie ScardinoAmount sold: 113,703 @ 950.04p Value: £1,080,224Burberry Group (BRBY) Director name: Ms Angela AhrendtsAmount sold: 115,139 @ 635.02p Value: £731,156Pearson (PSON) Director name: Ms Marjorie ScardinoAmount sold: 72,279 @ 950.04p Value: £686,679Pearson (PSON) Director name: Mr Will EthridgeAmount sold: 47,106 @ 950.04p Value: £447,526Burberry Group (BRBY) Director name: Ms Stacey CartwrightAmount sold: 52,809 @ 635.02p Value: £335,348Pearson (PSON) Director name: Ms Rona A FairheadAmount sold: 34,686 @ 950.04p Value: £329,531Pearson (PSON) Director name: Mr Robin FreestoneAmount sold: 34,686 @ 950.04p Value: £329,531Pearson (PSON) Director name: Ms Rona A FairheadAmount sold: 31,300 @ 950.04p Value: £297,363

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