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This publication revealed this morning that Bain-backed retail broker raised ~$100mn of preference shares in a deal with the private equity. -
Increased interest rates and unfavorable market conditions led to reduction in capital issuance activity in the P&C insurance industry in 2022.
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Inside P&C’s news team runs you through the key highlights of the week.
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Price-to-book multiples for insurers have increased materially over the last two years, but drops in equity partially drove the increase due to unrealized losses.
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Media reports said a group of Carvana’s 10 biggest lenders holding around $4bn of the company's unsecured debt have made a three-month pact to act together in the case of restructuring.
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Executive chairman Bill Berkley expects the company’s returns to reach or exceed its targeted 15% rate, driven by its investment income results.
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The Canadian investment fund now owns almost 3.8 million shares of the personal lines insurer, compared to 281,773 in Q2.
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In the uncertain economic landscape, investors have shifted toward value stocks like insurance, with increasing movement around this earnings season and the election.
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The broker also lowered its organic growth guidance for the full year 2022 to 14.5%-16%, compared with the prior guidance range of 16.5%-18%.
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The likely windows for a secondary offering of Corebridge's common stock will be mid- to late March as well as mid-May to late June.
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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 delisting comes after the insurer’s stock price fell below $1 for 30 consecutive days.
