McConachie invests more in Lancashire – The Royal Gazette | Bermuda News, Business, Sports, Events, & Community

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McConachie invests more in Lancashire

Lancashire Holdings president Neil McConachie has spent more than more than £230,000 (around $380,000) buying shares of his own company.

Mr McConachie’s purchase of 37,500 shares at an a price of £6.24 per share brings his holding in the FTSE-250 listed specialty insurance group up to 469,649 shares.

The Bermuda-based company announced last month that it would relocate its tax base to the UK.

Mr McConachie is a former employee of accountancy firm PricewaterhouseCoopers in London and Bermuda.

The company last month posted a rise in quarterly profits, saying that damage caused by tornadoes in the US had a minimal effect on Lancashire.

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Published August 24, 2011 at 2:00 am (Updated August 24, 2011 at 8:35 am)

McConachie invests more in Lancashire

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