Omega chairman invests nearly £1m

The chairman and chief executive of Omega Insurance Holdings are both buying shares in the Bermuda-based insurance underwriter with chairman John Coldman investing nearly £1m.

Richard Pexton became chief executive of Omega in March this year. He was previously boss of Heritage Underwriting Agency. Pexton's appointment came after Coldman became chairman following his appointment to the Omega board at a special general meeting called by Invesco.

The share price has been consistently declining for nearly two years.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Coldman bought 1.125m shares at 88p a share. He did not own any shares before this.

Pexton bought 225,000 shares at 88p a share - a total investment of £198,000. That takes his stake to 232,997 shares.

Top Director Buys

Omega Insurance Holdings (OIH) Director name: Mr John ColdmanAmount purchased: 1,125,000 @ 88.00p Value: £990,000

Omega Insurance Holdings (OIH) Director name: Mr Richard A PextonAmount purchased: 225,000 @ 88.00p Value: £198,000

Environ Group (Investments) (EVN) Director name: Mr Steven Robert HancockAmount purchased: 7,500,000 @ 0.40p Value: £30,000

Environ Group (Investments) (EVN) Director name: Mr Mark SimsAmount purchased: 7,500,000 @ 0.40p Value: £30,000

Environ Group (Investments) (EVN) Director name: Mr Steven Robert HancockAmount purchased: 5,000,000 @ 0.40p Value: £20,000

Environ Group (Investments) (EVN) Director name: Mr Mark SimsAmount purchased: 5,000,000 @ 0.40p Value: £20,000

Lombard Risk Management (LRM) Director name: Mr Ian PeacockAmount purchased: 250,000 @ 4.38p Value: £10,950

Lombard Risk Management (LRM) Director name: Mr Mike ShinyaAmount purchased: 250,000 @ 4.25p Value: £10,625

Marshalls (MSLH) Director name: Mr Mark EdwardsAmount purchased: 10,000 @ 106.04p Value: £10,604

Top Director Sells

General Electric (GEC) Director name: Mr Keith S. SherinAmount sold: 8,001 @ €12.14 Value: €97,156

General Electric (GEC) Director name: Mr John G. RiceAmount sold: 7,935 @ €12.14 Value: €96,355

General Electric (GEC) Director name: Mr Michael A. NealAmount sold: 7,875 @ €12.14 Value: €95,626

General Electric (GEC) Director name: Mr Brackett B. DennistonAmount sold: 4,100 @ €12.14 Value: €49,786

General Electric (GEC) Director name: Mr Pamela DaleyAmount sold: 2,034 @ €12.14 Value: €24,699