Reinsurance News
IPO
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
Re/insurer Canopius exploring IPO at valuation of more than £2bn: reports
19th January 2021
Global specialty insurer and reinsurer, Canopius Group, is reportedly in discussions about a potential public offering that could value the Lloyd's of London player at over £2 billion (USD 2.7bn), according to Sky News. Previously known as Sompo Canopius AG, the specialist re/insurer was acquired in 2017 by a consortium ... Read the full article
Conduit Re completes IPO; sees continued improvements in reinsurance
2nd December 2020
Conduit Holdings Limited, a new property and casualty (P&C) and specialty reinsurance underwriting business, led by founders Neil Eckert and Trevor Carvey, has completed its initial public offering (IPO) of 164,129,996 shares on the London Stock Exchange (LSE). Based on the offer price of 500 pence per share, the market capitalisation ... Read the full article
Conduit Re to proceed with IPO; expects to raise $1.1bn
12th November 2020
Neil Eckert and Trevor Carvey's new property and casualty (P&C) and specialty reinsurance underwriting business, Conduit Re, has today confirmed its intentions to proceed with an initial public offering (IPO) and apply for admission of its Shares on the London Stock Exchange (LSE). The news comes after Conduit's previous announcement ... Read the full article
Cohen & Company acquisition vehicle completes $230mn IPO
9th September 2020
Fixed income financial services specialist Cohen & Company has announced that INSU Acquisition Corp. II has completed its initial public offering (IPO), raising $230 million in the process. First announced back in July, INSU Acquisition Corp. II is a blank-check company sponsored by Cohen & Company, formed for the purpose ... Read the full article
Lemonade looks to raise up to $286 million in IPO
25th June 2020
InsurTech start-up Lemonade has commenced the previously announced initial public offering (IPO) of its common stock, which could raise up to $286 million. The company, which is backed by Japanese conglomerate SoftBank, announced in early June that it had filed a registration statement with the US Securities and Exchange Commission ... Read the full article
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