PRI gains on float as professional liability insurance attracts punters

Initial signs were not good for PRI Group's floatation on the Alternative Investment Market, Aim, yesterday, but shares rallied 8p to 115p on admission, raising £131m for acquisitions to build the business of providing liability insurance to professionals. PRI's business model rests on forecasts that professionals in areas such as healthcare and legal service will be subject to increasingly costly litigation against themselves as individuals as regulations covering issues such as medical malpractice shift insurance risk away from organisations to the individuals involved. The co...