IPOs
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The move comes amid improving conditions in the IPO market for insurance companies. -
The specialty insurer founded via a recapitalization of StarStone US is likely to go public in Q4.
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A Q3 listing remains a possibility, but the timeline can change rapidly amid storm season.
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The Texas-based broker will use proceeds to pay debt, consider acquisitions.
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The Texas-based broker is aiming to raise gross proceeds of $187mn.
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Underwriters will have the option to purchase an additional 1.6 million shares.
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Insurance Insider US revealed last October that the broker was planning a 2024 IPO process.
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Analysis of company performance post-IPO shows varying trajectories over time
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The firm’s underwriting performance is hard to piece together from the limited available data.
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The firm has zero pre-2020 reserves, no MGA relationships, and management with a strong record.
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Sources said that while a late June-early July IPO is still on the table, a Q4 or early 2025 listing is expected.
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