LONDON (ShareCast) - Lancashire Holdings non-executive director Barry Volpert is chief executive of private equity firm Crestview, which has raised more than £4.7m from the sale of shares in the property, aviation and marine insurer.

The share prices of the five separate disposals varied from 497p to just over 500p. Crestview still owns 3.6% of Lancashire.

In a separate deal, Lancashire bought back 88,181 shares at 497.3p each. It bought back $12.9m worth of shares in the first quarter of 2010.

Finance director Neil McConachie has sold 18,235 shares at 498p a share to raised £90,810. This is his second sale in June having raised just over £373,000 from the sale of 75,000 shares at 497.5p a share on the seventeenth.

McConachie has been with Lancashire since February 2006. Bermuda-based Lancashire switched from AIM to the Main Market in March 2009. The last AIM share price was 470p a share but in January a special dividend of 76p a share was paid. That was followed by a final dividend of 6.4p a share in April.

Lancashire had a book value per share of $7.38 at the end of March 2010. Net premiums written more than doubled from $99.2m to $203.5m in the first quarter of 2010.

Lancashire has secured a $200m two year credit facility with Lloyds and will report its second quarter figures on 5 August.

Top Director Buys

Mid Wynd International Inv Trust (MWY)
Director name: Mr Russell Napier
Amount purchased: 5,175 @ 940.00p
Value: £48,645

Tristel (TSTL)
Director name: Mr Francisco Angel Soler
Amount purchased: 75,000 @ 53.00p
Value: £39,750

Chemring Group (CHG)
Director name: Mr Kenneth C Scobie
Amount purchased: 1,000 @ 2,992.00p
Value: £29,920

Chemring Group (CHG)
Director name: Mr Kenneth C Scobie
Amount purchased: 1,000 @ 2,979.00p
Value: £29,790

Trinity Mirror (TNI)
Director name: Mrs Sylvia (Sly) Bailey
Amount purchased: 33,724 @ 73.50p
Value: £24,787

Trinity Mirror (TNI)
Director name: Sir Sir Ian Gibson
Amount purchased: 26,854 @ 74.10p
Value: £19,899

Chamberlin and Hill (CMH)
Director name: Mr Tom Brown
Amount purchased: 15,000 @ 74.00p
Value: £11,100


Top Director Sells

Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 589,808 @ 500.00p
Value: £2,949,040

Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 157,863 @ 500.00p
Value: £789,315

Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 104,694 @ 500.42p
Value: £523,910

New World Resources (NWR)
Director name: Mr Steven Schuit
Amount sold: 60,000 @ 712.90p
Value: £427,740

Sainsbury (J) (SBRY)
Director name: Mr Roger Burnley
Amount sold: 100,000 @ 326.10p
Value: £326,100

Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 48,630 @ 497.03p
Value: £241,706

Lancashire Holdings (LRE)
Director name: Mr Barry Stuart Volpert
Amount sold: 41,683 @ 497.02p
Value: £207,173

Lancashire Holdings (LRE)
Director name: Mr Neil William McConachie
Amount sold: 18,235 @ 498.00p
Value: £90,810

Discovery Metals (CDI) (DME)
Director name: Mr Gordon Galt
Amount sold: 101,219 @ 62.27p
Value: £63,029

Discovery Metals (CDI) (DME)
Director name: Mr Gordon Galt
Amount sold: 100,000 @ 61.77p
Value: £61,770

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