IPOs
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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
Hamilton’s IPO share price came in at the lower end of historical trends observed amongst insurers that have missed their target range upon listing.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The carrier’s $15 per share listing came in below its $16.90 book value per share at the mid-year reporting point, or a 0.9x multiple.
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The carrier is offering 15 million Class B common shares, according to a registration statement filed with the SEC.
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Investors must weigh a differentiated investment strategy and true specialty opportunity against partial third-party investment control and historical losses.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Ongoing rate declines have been seen in recent renewals though the pace of decreases, particularly for established public companies, has slowed.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Sources said the roughly $2.7bn book value business is likely to target a valuation of 1.5x book or above — pointing to a valuation in excess of $4bn.
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The carrier intends to list its common shares on the New York Stock Exchange under the ticker symbol “HG”.
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Sources said the independent broker has lined up JP Morgan and Morgan Stanley as lead bookrunners in the IPO process.
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