Insurer Beazley targeting Hardy
LLOYD’S insurer Beazley has revived its interest in Hardy Underwriting Bermuda, a year after abandoning an £180million bid for its smaller rival.
Beazley, whose previous 350p-a-share offer was rejected by Hardy management, said it wanted to enter “exploratory discussions”.
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It added: “This does not represent a firm intention to make an offer and there can be no certainty that an offer by Beazley will be made.”
Hardy, up 19p to 194p, put itself up for sale after suffering losses from a catalogue of natural disasters including flooding in Thailand.