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The conference came at a particularly tumultuous time for the US insurance industry and the economy at large. -
The deal will place the highest ever private valuation on a broking firm.
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The initial offering includes 6,875,000 shares of common stock.
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The IPO was announced at the end of April, targeting ~$2.6bn-$2.9bn.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The preferred shares will mandatorily convert to common equity on an IPO.
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The offering launched last week with a valuation between $103mn and $116.8mn.
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The MGA market now makes up 10% of the overall P&C market.
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But there’s little concern about those pressures creeping into SME accounts.
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Older accident years, targeted markets business contributes to adverse development.
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IGI saw opportunities in energy, ports and terminals and marine cargo but remains cautious in long-tail lines.
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California homeowners are also expected to move admitted business to E&S.
