Stocks

The carrier is offering 65 million shares of common stock, out of approximately 648 million total shares outstanding.

Forecasts for “near-normal” activity may mean the chance at a reprieve for the Florida market, but a history of underestimates warrants caution.

Onex reduced its position in the wholesaler by almost two-thirds to nearly 3.7% from around 11.3%, while president Tim Turner sold ~700,000 of his nearly 4.9 million shares.

The current status of debt ceiling discussions, or lack thereof, are rattling markets, but select P&C insurers look strong in a relative sense.

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

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.