Montpelier Re CEO sells $500,000 shares

The chief executive officer of Montpelier Re, Richard Chattock, has sold 15,000 shares worth approximately $500,000. The trade took place on December 8.

The stock was sold at an average price of $34.3, for a total value of around $514,500. Following the sale, Chattock now owns 94,333 shares.

More recently, rumours have circulated that the company is up for sale.

Montpelier Re’s profits fell in the third quarter of 2014 while its gross written premiums increased. The reinsurer’s net profit fell to $42.3 million in the quarter compared with $57.9 million in the third quarter of 2013. Its gross written premiums, however, increased to $128.9 million in the quarter compared with $114.5 million a year earlier.