Stocks

A quick roundup of this week’s biggest stories.

The latest short interest data shows continued pessimism on InsurTechs and Florida insurers.

The fundraise was led by Golub Capital and jointly arranged by Antares Capital, both existing lenders to Patriot Growth.

This latest funding round brings total committed capital for the collateralized reinsurer to $75mn.

In addition to Lightyear’s capital injection, current backer BHMS agreed to roll a material portion of its existing equity and made an additional investment alongside Lightyear.

The offering sold 3.6mn shares priced at $30.50 apiece and brought in approximately $104.9mn.

Amynta Ease-of-Business president Arthur Seifert said he expects MGAs to move away from the popular Dutch auction process and instead find one party that’s a good fit.

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

SEC filings show that, in Q3, the activist shareholder liquidated its remaining 508,880 shares in WTW — worth around $120mn at the end of Q2.

With the fundraising, Skyward will capitalize on market opportunities within existing lines of business, but also continue to expand into new products.

Last month this publication reported that the 777 Partners-backed company was close to signing a deal with Charlesbank.

James River’s stock price plummeted more than 30% on Thursday, after the firm sustained downgrades from equity analysts over concerns around the insurer’s E&S casualty reserves.