Hardy director buys after Beazley ends bid talks

Hardy Underwriting Bermuda director Paul Bailie has bought shares following last week's withdrawal of Beazley from bid talks for the insurance underwriter.

Beazley had indicated that it was willing to offer 350p a share for Hardy but the two could not agree on a price. Hardy is thought to have wanted around 400p a share.

Bailie bought 30,000 shares at 275p a share at a total cost of £82,500. His total holding is 41,479 shares.

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Bailie is managing director of the Bermudan operations of Hardy. The whole group was redomiciled from the UK to Bermuda in 2008 but it also has Lloyds of London operations.

Hardy has also bought back 100,000 shares at 275p each.

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