Ecclesiastical raises £40m in share issue

The company stated the additional capital would give it the opportunity to invest in core areas, particularly charity and heritage niches.

Mark Hews, chief financial officer for Ecclesiastical, told Insurance Age: "In the year to date we've seen very strong growth, in charity of 25% and in heritage around 40%. These areas build on the strong reputation we've got and the experience in looking after and insuring historical buildings. This is an area we think we can continue to grow and fits well