SHARES in the New Ireland insurance group jumped another 50p to a new high of 800p yesterday on continued speculation that its 83 per cent shareholder, Unino Assurance de Paris (UAP), may soon bid to buy out the minority shareholders.

Since the beginning of the year, New Ireland shares have risen 33 per cent. However, trading has been in very low volumes with most the non UAP owned shares held by a small group of Irish institutions headed by Friends Provident and the ESB Pension Fund.

There is now a growing view in the market that UAP will buy out the minority shareholders at well in excess of £10 a share. That would value New Ireland at £108 million and price the 17 per bent of the shares held by minority shareholders at over £18 million.

UAP is currently restructuring. A British company, Sun Life and Provincial Holdings, has been established to include the British Sun Life and Irish New Ireland to sell off a minority interest in the British holding company for around £500 million.

Last month New Ireland reported a 42 per cent increase in profits to £10.4 million for 1995.