Stocks
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P&C buybacks have continued to decline, but large authorizations keep companies flexible. -
It is understood that the company aims to launch in Q3 or Q4 of this year.
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Sources said the process will target buyout firms and will not be open to trade bidders.
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Hiscox, Intact Ventures, Weatherford and RPM Ventures participated in the fundraise.
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Shares had fallen over 20% since Monday.
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James River is suing Flemming Intermediate while a potential sale of the company is ongoing.
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This publication revealed that the company was raising capital earlier this year.
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The InsurTech’s shares gained over 50% in value on Thursday.
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SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.
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The company would ideally like to target a minority investment.
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Enstar acquired 637,640 shares of James River in Q4 last year valued at nearly $6mn.
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The company provides a platform for brokers to value, buy and sell books of business.
