Amlin non-exec trebles shareholding

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 Buys

Amlin (AML)
Director name: Mr A W Holt
Amount purchased: 500,000 @ 411.75p
Value: £2,058,750

New Europe Property Investments (NEPI)
Director name: Mr Desmond de Beer
Amount purchased: 125,000 @ EUR 2.56
Value: EUR 320,000

GlobeOp Financial Services (GO.)
Director name: Mr Edward Annunziato
Amount purchased: 44,452 @ 220.40p
Value: £97,972

Record (REC)
Director name: Mr Paul Sheriff
Amount purchased: 138,103 @ 66.00p
Value: £91,148

W H Ireland (WHI)
Director name: Mr Richard Ford
Amount purchased: 73,000 @ 38.50p
Value: £28,105

Aviva (AV.)
Director name: Mr Michael Hawker
Amount purchased: 5,000 @ 381.34p
Value: £19,067


Top Director Sells

Xstrata (XTA)
Director name: Mr Michael Davis
Amount sold: 230,110 @ 1,066.00p
Value: £2,452,973

Xstrata (XTA)
Director name: Mr Trevor Reid
Amount sold: 115,055 @ 1,066.00p
Value: £1,226,486

Pearson (PSON)
Director name: Ms Marjorie Scardino
Amount sold: 113,703 @ 950.04p
Value: £1,080,224

Burberry Group (BRBY)
Director name: Ms Angela Ahrendts
Amount sold: 115,139 @ 635.02p
Value: £731,156

Pearson (PSON)
Director name: Ms Marjorie Scardino
Amount sold: 72,279 @ 950.04p
Value: £686,679

Pearson (PSON)
Director name: Mr Will Ethridge
Amount sold: 47,106 @ 950.04p
Value: £447,526

Burberry Group (BRBY)
Director name: Ms Stacey Cartwright
Amount sold: 52,809 @ 635.02p
Value: £335,348

Pearson (PSON)
Director name: Ms Rona A Fairhead
Amount sold: 34,686 @ 950.04p
Value: £329,531

Pearson (PSON)
Director name: Mr Robin Freestone
Amount sold: 34,686 @ 950.04p
Value: £329,531

Pearson (PSON)
Director name: Ms Rona A Fairhead
Amount sold: 31,300 @ 950.04p
Value: £297,363