Latest Funding Headlines
All the headlines from our Funding Topic Page, ordered by recency.
AXIS Ups Dividend; Increases Share Repurchase Plan
Mar 15 2005 // Bermuda-based AXIS Capital Holdings Limited announced that its Board of Directors has authorized the Company to engage in two capital management initiatives. The Board approved a 20 percent increase in the quarterly...
Allianz to Raise $5.24 Billion with New Debt Offerings; Best Rates Issues ‘aa-‘
Jan 27 2005 // Allianz AG said it was taking “advantage of attractive capital market conditions to launch an innovative financing transaction. The German giant plans an “All-in-one” package, with the launch of three...
PartnerRe Accelerates 2 Million Share Repurchase
Dec 28 2004 // Bermuda-based PartnerRe Ltd. announced the repurchase of 2 million shares of its common stock in an accelerated share repurchase agreement. The bulletin, released Friday, Dec. 23, said the shares would “be purchased...
Quanta Capital Raises $40 Million; Best Rates Insurer’s EU Sub ‘A-‘
Dec 22 2004 // Bermuda-based Quanta Capital Holdings Ltd., which provides specialty insurance, reinsurance, and risk consulting services through its subsidiaries, announced that it has completed the private placement of $40 million of...
AXIS Authorizes $350 Million Share Repurchase Plan
Dec 13 2004 // Bermuda’s AXIS Capital Holdings Limited announced that its Board of Directors has approved the repurchase of up to $350 million of its common shares. “The repurchases are expected to be effected from time to...
PALMER & CAY RAISES $50,000:
Nov 8 2004 // Palmer & Cay hosted the First Annual “Fight Against Brain Tumors Charity Golf Classic” at White Columns Country Club in Alpharetta, Ga. With more than 130 people in attendance, representing more than 50...
U.K.’s Beazley to Raise $190 Million to Fund Omaha Insurance Acquisition
Nov 2 2004 // Lloyd’s insurer Beazley Furlonge Ltd. announced that it plans to raise £105 million ($191 million) through a rights issue, to both strengthen its capital position, and to fund the acquisition of Omaha Insurance...
Lloyd’s to Raise $900 Million from International Debt Market; Best Rates Issue
Oct 18 2004 // Lloyd’s announced that it plans to make its debut in the international debt markets, with an issue aimed at raising approximately £500 million ($902 million) of long-term subordinated debt. The announcement...
Converium Closes $420 Million Capital Deal; S&P Raises Rating – Somewhat
Oct 18 2004 // Swiss reinsurer Converium AG has apparently weathered what its CFO Martin Kauer called “a perfect summer storm.” The company successfully closed its capital raising initiative with the sale of $420 million...
Hartford Authorizes $1 Billion Share Repurchase
Oct 6 2004 // The Hartford Financial Services Group, Inc. announced that its Board of Directors has authorized the company to repurchase up to $1 billion of its securities. “This action reflects our progress in building capital...
Converium Completes External Reserve Review; Share Issue to Raise $420 Million
Aug 31 2004 // Zurich-based Converium Holding AG announced that an external reserve review, conducted by the actuarial consulting firm Tillinghast-Towers Perrin, confirms reserves to be “within a reasonable range of actuarial...
Montpelier Re Gives Share Repurchase Details
Jun 2 2004 // Bermuda-based Montpelier Re Holdings Ltd. reported that the Company has agreed to repurchase 1,263,865 of its common shares owned by Vestar AIV Holdings and related entities, who were initial investors when the company was...
Ace’s Assured Guaranty Set to Raise $1 Billion
Apr 5 2004 // According to news reports ACE Limited’s initial public offering of its credit unit, Assured Guaranty, is set to raise approximately $1 billion. ACE is spinning off the Bermuda-based operation, which specializes in...
Catlin IPO to Raise $200 Million
Mar 5 2004 // The Bermuda-based Catlin Group Limited (CGL) has confirmed its intention to offer shares to the public. (See IJ Website Mar.4) and to seek a listing on the London Stock Exchange. CGL, which does business both in Bermuda...
NYMAGIC Announces Board Restructuring; to Raise $75 Million
Feb 27 2004 // Directors at NYMAGIC, Inc.’s annual Board Meeting announced an increase in the size of the Board from 12 to 13 members and the election of David E. Hoffman as a Director. Plans to restructure the Company’s...
S&P Raises SCOR’s Ratings to ‘BBB+’ – Best Changes Outlook
Dec 3 2003 // Both A.M. Best Co. and Standard & Poor’s Ratings Services reacted positively to the news from France’s SCOR Group that it plans to raise an additional 750 million euros ($896 million) through a rights...
Calif. Insurance Council Raises $540K for City of Hope
Nov 3 2003 // The California Insurance Council, a group of insurance industry leaders dedicated to supporting the lifesaving research and treatment programs at City of Hope Cancer Center, raised $540,000 during the group’s annual...
China’s PICC IPO Raises $693 Million; HSBC Seeks China License
Oct 31 2003 // AIG isn’t the only company that’s seeking to strengthen its already historic roots in China. HSBC Holdings Plc. (once known simply as the Hong Kong and Shanghai Bank) announced that it is on the point of...
Sierra Health Services Announces an Increase in Its Share Repurchase Program
Oct 29 2003 // Las Vegas-based Sierra Health Services Inc. announced that its Board of Directors has authorized the company to purchase up to an additional 3 million shares of its common stock. On Jan. 7, 2003, the company announced that...
American Safety Insurance Raises $5 Million Via Trust Preferred Offering
Oct 7 2003 // American Safety Holdings Corp., a wholly-owned subsidiary of American Safety Insurance Holdings, Ltd., has completed a $5 million private placement of trust preferred securities. The securities have a floating interest...
