Resolution non-exec Tim Wade's wife has bought shares in the insurance firm consolidator.
The 40,000 shares she bought are the only shares the couple own in Resolution. At 251.5p a share, they cost a total of £106,000.
Wade joined the Resolution board on 19 May and he is chairman of the audit and risk committee. Wade is also a director of Macquarie Bank International.
Start your trial of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Start your trial
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
In the first half of 2010, Resolution, which bought AXA's UK life assurance business in June for £2.75bn, reported an IFRS operating profit of £203m and "additional financial discipline" has seen Friends, snapped up last year for £1.9bn, contribute £211m. Resolution lost £7m a year ago.
Latest Videos FromMoneyWeek
New business profits jumped 153% at Friends to £81m, returns on new business rose from 10.7% to 15.1% and MCEV operating profit leapt 55% to £188m. Sales on an annual premium equivalent (APE) basis increased 42% to £458m.
Top Director Buys
Cyprotex (CRX) Director name: Mr Douglas BatesAmount purchased: 5,303,571 @ 3.50p Value: £185,625
Resolution Ltd (RSL) Director name: Mr Tim WadeAmount purchased: 40,000 @ 251.50p Value: £106,000
Cyprotex (CRX) Director name: Dr Katya TsaiounAmount purchased: 1,767,857 @ 3.50p Value: £61,875
Lok'n Store Group (LOK) Director name: Mr Charles PealAmount purchased: 50,000 @ 87.00p Value: £43,500
Cyprotex (CRX) Director name: Mr Stephen HarrisAmount purchased: 714,286 @ 3.50p Value: £25,000
Cyprotex (CRX) Director name: Mr John DootsonAmount purchased: 550,000 @ 3.50p Value: £19,250
Aberdeen Latin American Inc Fund (ALAI) Director name: Mr Martin AdamsAmount purchased: 10,000 @ 100.00p Value: £10,000
Top Director Sells
News Corp A (NCRA) Director name: Mr James MurdochAmount sold: 87,903 @ $12.95 Value: $1,138,344
News Corp A (NCRA) Director name: Mr Rupert MurdochAmount sold: 54,130 @ $12.95 Value: $700,984
News Corp A (NCRA) Director name: Mr Rupert MurdochAmount sold: 51,119 @ $12.95 Value: $661,991
News Corp A (NCRA) Director name: Mr Chase CareyAmount sold: 42,935 @ $12.95 Value: $556,008
News Corp A (NCRA) Director name: Mr Rupert MurdochAmount sold: 39,750 @ $12.95 Value: $514,762
News Corp A (NCRA) Director name: Mr Rupert MurdochAmount sold: 37,540 @ $12.95 Value: $486,143
News Corp A (NCRA) Director name: Mr Rupert MurdochAmount sold: 36,363 @ $12.95 Value: $470,901
News Corp A (NCRA) Director name: Mr Chase CareyAmount sold: 34,355 @ $12.95 Value: $444,897
News Corp A (NCRA) Director name: Mr Rupert MurdochAmount sold: 34,342 @ $12.95 Value: $444,729
News Corp A (NCRA) Director name: Mr Rupert MurdochAmount sold: 23,952 @ $12.95 Value: $310,178
