Reinsurance News
IPO
Fitch anticipates rise in reinsurance M&A activity as market softens
2nd September 2024
Although 2024 has not seen any major reinsurance M&A announcements, Fitch Ratings expects that as the market inevitably softens and organic growth opportunities diminish, companies that have accumulated capital may seek to acquire less successful re/insurers. Fitch analysts noted that M&A activity has slowed in 2024 following several large deals in ... Read the full article
Insurance IPO activity rises in 2024, says Stonybrook
28th June 2024
Insurance IPO activity has been increasing in the first half of 2024, potentially encouraging more companies to consider IPOs as they could now achieve higher valuations compared to last year, according to Stonybrook Capital. Several private equity-backed retail brokers are currently preparing to go public, including Acrisure, Alliant, Howden, and Hub. Stonybrook ... Read the full article
Bowhead Specialty reveals pricing of upsized IPO, proceeds expected to be $128m
23rd May 2024
Bowhead Specialty, a provider of casualty and professional liability products, has revealed the pricing of its upsized initial public offering (IPO) of 7,529,412 shares of its common stock at a public offering price of $17.00 per share. Earlier this month, Bowhead announced the launch of its IPO of 6,666,667 shares ... Read the full article
Bowhead Specialty to raise around $106.6m from IPO
13th May 2024
Bowhead Specialty, a provider of casualty and professional liability products, has announced the launch of the initial public offering (IPO) of 6,666,667 shares of its common stock, aiming to raise as much as $106.6 million. The IPO price, according to the registration statement on Form S-1 filed with the Securities and ... Read the full article
FWD reportedly considering stake sale following IPO delays
19th February 2024
FWD Group Holdings Limited, an Asian insurance company, is considering selling shares among other options after delaying a planned initial public offering (IPO), as reported in a recent news article by Bloomberg. If a deal proceeds, it is reported that FWD will likely seek a valuation of over $10 billion. Big global ... Read the full article
Stonybrook ‘proud’ to work with Heritage on $25m public offering
13th February 2024
Stonybrook Capital, LLC and its affiliates served as Financial Advisor for super-regional property and casualty insurance holding company, Heritage Insurance Holdings’ recently completed public offering. Heritage announced the successful conclusion of its primary public offering of common stock back in December. The gross proceeds totalled approximately $25 million before accounting ... Read the full article
Fortegra withdraws initial public offering
7th February 2024
Global specialty insurer and a subsidiary of Tiptree Inc., The Fortegra Group, Inc., has announced the withdrawal of its initial public offering. “Due to prevailing market conditions and the high value Tiptree Inc. and Warburg Pincus LLC place on Fortegra and its growth prospects, Tiptree and Warburg have decided to withdraw ... Read the full article
Aspen Insurance files for US IPO to “increase financial flexibility”
21st December 2023
Specialty re/insurer Aspen Insurance Holdings Limited has filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed underwritten initial public offering (IPO) of its ordinary shares. This news follows a report from early December in which Aspen confirmed it was mulling ... Read the full article
Aspen confirms potential IPO in 2024
11th December 2023
Bermuda-based insurer and reinsurer, Aspen Insurance Holdings Limited, has confirmed that it is mulling an initial public offering (IPO) of its ordinary shares in 2024, subject to satisfactory market conditions. The announcement from Aspen confirms a previous report by the Financial Times that Aspen has been working with bankers for some ... Read the full article
Aspen reportedly opts for New York as venue for $4bn IPO
4th December 2023
Aspen, the Bermuda headquartered global specialty insurance and reinsurance company, is reportedly opting for New York as a venue for an initial public offering (IPO), rather than London, according to the Financial Times. It's been reported before that Aspen has been working with bankers for a number of months, in planning ... Read the full article
Hamilton successfully completes IPO, raises $80.6m
15th November 2023
Hamilton Insurance Group, Ltd. successfully concluded its initial public offering (IPO) by closing the sale of 15,000,000 Class B common shares. This total includes 6,250,000 shares sold by the company itself and 8,750,000 shares sold by existing shareholders. The shares were priced at $15.00 each, and trading commenced on the New ... Read the full article
Tiptree’s Fortegra files for IPO
14th November 2023
Fortegra, the specialty insurance subsidiary of holding company Tiptree, has publicly filed a Registration Statement on Form S-1with the Securities and Exchange Commission (SEC) for an initial public offering (IPO). Earlier this month, alongside the announcement of its third quarter results, Tiptree highlighted its plans to take Fortegra public. The size ... Read the full article
Hamilton raises $93.75m in net proceeds as IPO prices below target
10th November 2023
Bermuda insurer and reinsurer, Hamilton Insurance Group, has successfully priced its initial public offering (IPO) of 15,000,000 Class B common shares at a public offering price of $15.00 per share, raising a total of USD 225 million. Net proceeds received were USD 93.75 million from its IPO of its Class B ... Read the full article
Tiptree posts rise in Q3’23 revenue, intends IPO of specialty insurance business Fortegra
2nd November 2023
Holding company Tiptree has reported revenues of $416.5 million for Q3'23, an increase of 14.6% from Q3'22, driven by growth in Fortegra’s specialty insurance lines. Tiptree intends to take its specialty insurance subsidiary, Fortegra, public. Tiptree expects the Fortegra IPO to be a primary offering with the proceeds used to support ... Read the full article
Hamilton targets $90m+ in net proceeds as it launches IPO
1st November 2023
Bermuda insurer and reinsurer, Hamilton Insurance Group, could receive net proceeds of up to USD 97.1 million from its initial public offering (IPO) of its Class B common shares, which will be used to make capital contributions to its re/insurance subsidiaries amid favourable market conditions. After submitting a draft proposal in ... Read the full article
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