Stocks

Details of the placement are being closely guarded, but one source suggested the raise could be in the region of $1bn.

The intermediary employs over 150 staff members and has annual revenues of $15mn-$20mn.

The Dan Loeb-controlled investment firm reduced its position in AIG to 2.95 million shares, or ~0.4%, in Q1, from or 5.1 million shares, or around 0.7%, at the end of Q4.

Three months ago, Starboard trimmed its stake by almost 14% to 1,925,491 shares valued at over $470mn from 2,232,209 shares at the end of Q3.

Securities filings show the conglomerate’s ownership of Markel holdings was valued at over $600mn at the end of March.

Inside P&C’s news team runs you through the key highlights of the week.

Bermudian carrier SiriusPoint’s equity stake in D&O MGA Banyan Risk has been reduced to 49% from 100%, filings show.

Mega-round funding accounted for the smallest percentage of total funding since Q1 2020, according to Gallagher Re’s latest Global InsurTech Report.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

When a Grade A franchise like Hub refis at this kind of valuation, the read across to other assets is highly negative.

Inside P&C revealed in late March that Leonard Green was one of the two remaining parties in the process, with an enterprise value of under $25bn, based on bids of ~16x just under $1.5bn of Ebitda.

Inside P&C’s morning summary of the key stories to get you up to speed fast.