Beazley’s top brass have profited handsomely from the recent takeover activity surrounding the London-listed insurance firm. Company filings reveal that several senior managers purchased shares in the run-up to Helvetia’s public bid announcement, allowing them to reap substantial paper gains.
The Swiss insurance conglomerate Helvetia finally went public with its long-rumoured acquisition of Beazley last month, sending the target company’s stock price soaring. This triggered substantial windfalls for Beazley’s executives, who had quietly accumulated shares ahead of the deal’s unveiling.
Regulatory disclosures show that Beazley’s chief executive, Adrian Cox, bought 20,000 shares in the firm at an average price of 487p per share in the weeks before the bid announcement. With Helvetia offering 619p per share, Mr Cox is now sitting on an unrealised profit of over £26,000 from that transaction alone.
Similarly, Beazley’s chief financial officer, David Horton, purchased 10,000 shares at 490p each, generating a paper gain of around £13,000 when the takeover bid was revealed. Other senior managers, including the chief under
