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Onex reduced its position in the wholesaler by almost two-thirds to nearly 3.7% from around 11.3%, while president Tim Turner sold ~700,000 of his nearly 4.9 million shares. -
The current status of debt ceiling discussions, or lack thereof, are rattling markets, but select P&C insurers look strong in a relative sense.
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Inside P&C’s news team runs you through the key highlights of the week.
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Details of the placement are being closely guarded, but one source suggested the raise could be in the region of $1bn.
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The intermediary employs over 150 staff members and has annual revenues of $15mn-$20mn.
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The Dan Loeb-controlled investment firm reduced its position in AIG to 2.95 million shares, or ~0.4%, in Q1, from or 5.1 million shares, or around 0.7%, at the end of Q4.
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Three months ago, Starboard trimmed its stake by almost 14% to 1,925,491 shares valued at over $470mn from 2,232,209 shares at the end of Q3.
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Securities filings show the conglomerate’s ownership of Markel holdings was valued at over $600mn at the end of March.
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Inside P&C’s news team runs you through the key highlights of the week.
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Bermudian carrier SiriusPoint’s equity stake in D&O MGA Banyan Risk has been reduced to 49% from 100%, filings show.
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Mega-round funding accounted for the smallest percentage of total funding since Q1 2020, according to Gallagher Re’s latest Global InsurTech Report.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
