IPOs

Inside P&C has independently confirmed that the bank is working on a full sale of its insurance operation amid a challenging banking environment.

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

It is understood that Morgan Stanley was selected as lead underwriter in the process, with Q1 seen as the likeliest timing for a listing.

Last week, the Bermudian carrier filed its draft registration statement for a proposed IPO to the US Securities and Exchange Commission.

The carrier has not determined the number of common shares to be offered, nor the price range for its proposed IPO.

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

In a recent report titled “TFC: Primed for activist”, Wells Fargo notes investor discontent and lists pressing issues to be addressed at Truist.

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

Underwriting income more than doubled to $77.5mn from $32mn as the company grew its top line largely through its specialty segment, reduced reinsurance exposure and lowered catastrophe and large losses.

The question of how to finance the private brokers no longer begins and ends with a PE flip.

The carrier could be the first tech-enabled underwriting business to test public investor appetite since the heady days of 2020.

Fidelis Insurance Group CEO Dan Burrows and Fidelis MGU counterpart Richard Brindle speak with Insurance Insider after the IPO.