Reinsurance News
IPO
Cutback in IPOs a “key driver” behind the drop in D&O direct premium in 2022: AM Best
15th February 2023
According to analysts at AM Best, one key question that currently surrounds the US directors & officers (D&O) insurance segment is whether carriers can sustain their recent, more favorable results given less aggressive pricing amid high social inflation and inflationary economic pressure. In Best’s market segment report, ‘Hard Market Gives Way ... Read the full article
Skyward Specialty announces pricing of upsized IPO
16th January 2023
Skyward Specialty, a P&C insurance holding company part of Westaim Corporation, has priced its upsized initial public offering (IPO) of 8,952,383 shares of its common stock at a price of $15.00 per share, generating proceeds of around $134 million. This includes 4,750,000 common shares being offered by Skyward Specialty and 4,202,383 ... Read the full article
Skyward Specialty announces IPO with potential to generate $150m
5th January 2023
Skyward Specialty, a P&C insurance holding company part of Westaim Corporation, has launched its initial public offering (IPO) of its common stock, expected at $14.00 and $16.00 per share, with the potential to generate top-end proceeds of around $150 million. The offering consists of 4,750,000 shares of stock offered by Skyward ... Read the full article
Skyward Specialty files for initial public offering
14th November 2022
Skyward Specialty, a P&C insurance holding company part of Westaim Corporation, has filed a registration statement with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its common stock. The firm submitted a draft registration statement in April 2022. According to the announcement, the number ... Read the full article
AIG launches IPO capital raise for Corebridge
7th September 2022
American International Group (AIG) has launched the initial public offering (IPO) of its majority-owned subsidiary, Corebridge Financial. AIG rebranded the parent company of its Life & Retirement business from SAFG Retirement Services to Corebridge back in March, ahead of plans to make the company public. Since then, Moody’s has affirmed ... Read the full article
Thai Life Insurance raises $1 billion via IPO
14th July 2022
Thai Life Insurance Pcl raised $1 billion from an initial public offering, the largest share sale by a Thai firm in more than a year, according to reports from Bloomberg. It was recently reported that the insurer was targeting a capital raise of more than $1 billion. The Bangkok-based life insurer ... Read the full article
Thai Life Insurance targets $1bn+ fundraise via IPO
29th June 2022
Thai Life Insurance Co. is targeting a capital raise of more than $1 billion through an initial public offering in Thailand, according to reports from Dow Jones Newswires. If successful, the IPO would be the country's largest such fundraising so far this year, analysts have noted. Thailand's largest insurer by premium revenue ... Read the full article
Andy Rear & Will Allen confirm London SPAC listing
6th April 2022
Former Munich Re executive Andy Rear and Will Allen, previously of investment bank KBW, have confirmed their intention to float a new special purpose acquisition company (SPAC) on the London Stock Exchange. The company, called Financials Acquisition Corp, is sponsored by FINSAC LLP, which is a limited liability partnership founded by Allen ... Read the full article
Andy Rear & Will Allen plan £150m London SPAC IPO: report
31st March 2022
Former Munich Re executive, Andy Rear and Will Allen, previously of investment bank KBW, are soon to launch a new special purpose acquisition company (SPAC) on the London Stock Exchange called FINSAC, according to a Sky News report. The report from Sky News confirms market rumours that had been circulating, and ... Read the full article
HCI shelves proposed TypTap IPO in light of recent market conditions
13th January 2022
HCI Group has shelved the planned U.S. initial public offering (IPO) of its Florida insurtech subsidiary, TypTap Insurance Company, in light of current market conditions. It was announced in August last year that HCI Group had confidentially submitted a draft registration statement for a proposed IPO with the Securities and Exchange ... Read the full article
Hallmark Financial halts separation of specialty commercial business
29th December 2021
Property and casualty insurance company Hallmark Financial Services, Inc. has announced that it is no longer actively pursuing the previously announced separation of its Specialty Commercial business segment. As a result, the company does not intend to proceed with the previously announced initial public offering of the specialty commercial business. Current evaluations ... Read the full article
Underwriters purchase additional IPO from RSG
28th July 2021
Ryan Specialty Group Holdings has announced that underwriters have purchased an additional 8,537,742 shares of its Class A common stock at the initial public offering (IPO) price of $23.50 per share. The group previously announced an IPO of 56,918,278 shares of its Class A common stock. Ryan Specialty has issued a ... Read the full article
RSG launches initial public offering
26th July 2021
Ryan Specialty Group has launched its initial public offering of 56,918,278 shares at a price of $23.5 per share. Ryan Specialty will receive net proceeds of approximately $1,259.1 million after deducting underwriting discounts and commissions and estimated expenses. It intends to grant underwriters the right to purchase up to an additional 8,537,742 ... Read the full article
Ryan Specialty plans IPO as 2020 revenue tops $1bn
22nd June 2021
Ryan Specialty Group Holdings, Inc. (RSG) has announced plans for an initial public offering (IPO) of an undisclosed number of shares of its Class A common stock, as the company reports $1 billion of revenue and impressive organic growth for 2020. This is the very first time there has been public ... Read the full article
Hallmark plans IPO of specialty commercial business segment
14th April 2021
Specialty property and casualty (P&C) insurer, Hallmark Financial Services, has announced plans to pursue an initial public offering (IPO) of a non-controlling ownership stake within its specialty commercial business segment, under the name Hallmark Specialty Group, Inc. The number of shares of Hallmark Specialty Group to be offered and the price ... Read the full article
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