Beazley, the UK insurer, has got its £150m (€236m) initial public offering away, making it the largest European IPO in four months.

The deal was led by Numis Securities, which is also joint financial adviser alongside Lexicon Partners. Banc of America acted as co-manager. Shares in Beazley traded up nearly 7% on its debut on Tuesday morning, despite a bleak climate for initial public offerings.