Latest Funding Headlines
All the headlines from our Funding Topic Page, ordered by recency.
Converium Gives Details on Reserves, Plans to Raise $200 Million
Nov 19 2002 // Swiss-based Converium Group announced details of the $70.3 million in additional reserves it expects to fund for Converium North America during the fourth quarter. It also plans to raise an additional $200 million through...
Aon Raises $550 Million in Share Sale, $250 Million on Bonds
Nov 5 2002 // Chicago-based Aon Corporation took a couple of giant steps toward its goal of raising $1 billion in new capital, with the successful sale of 32 million shares of stock at $17.18 per share it raised $550 million, $50...
9th Annual Golf Tourney Raises $70,000 For Insuring the Children
Oct 30 2002 // When insurance professionals and their guests from Los Angeles and Orange County convened at Dove Canyon Country Club on Oct. 14, they not only had a great day of playing golf, but they raised another $70,000 for their...
InVEST Students Participate in IIABA’s InfoXchange; Silent Auction Raises $30,000
Oct 18 2002 // InVEST, a business-education partnership training high school and community college students in insurance agency and company operations and encouraging them to pursue careers in the industry, hosted 26 high school students...
Montpelier Re Holdings IPO Raises $190 Million
Oct 10 2002 // Montpelier Re Holdings successfully completed an initial public offering of 9.52 million of its shares priced between $20 and $22. The new Bermuda-based reinsurer raised around $190 million. The company was established...
Travelers Property Casualty Authorizes $500M Share Repurchase
Sep 26 2002 // Travelers Property Casualty Corp. announced that its Board of Directors authorized the company to spend up to $500 million for the repurchase of its Class A and Class B common stock. The repurchases may be made from time...
More Lloyd’s Investment, BRIT to Raise £204 Million in Rights Offering
Sep 24 2002 // BRIT Insurance Holdings PLC, a leading participant in the Lloyd’s market, announced plans to raise around £204million ($316 million) through a rights offering. The company plans on using the funds to increase its...
Selective Group to Raise $100M in Private Offering
Sep 18 2002 // Selective Insurance Group, a Branchville, N.J.-based holding company for five property and casualty insurance companies offering primary and alternative market insurance for commercial and personal risks, announced a...
Aegon Agrees on Plan to Raise £2 Billion Through Share Sale
Sep 16 2002 // Aegon, the Netherlands second biggest insurer and financial services company, announced that it has reached an agreement with its largest shareholder, Vereniging AEGON (the Association), providing for the sale of 350...
NJ YIP’s Fun Run Raises $80,000 for Special Olympics
Jun 18 2002 // The New Jersey Young Insurance Professionals held its annual Fun Run last week during the Professional Insurance Agents of New Jersey Inc.’s annual business conference, raising a record high of nearly $80,000 for...
Arch Capital Public Offering Raises $179 Million
Apr 9 2002 // Bermuda’s Arch Capital Group Ltd. announced that its offering of 7,475,000 common shares at $25.50 per common share (See IJ Website April 4) resulted in net proceeds of approximately $179 million. The offering, which...
PMA Raises $158 Million; S&P Affirms ‘A’ Ratings
Dec 27 2001 // Philadelphia-based PMA Capital Corporation announced that it has successfully completed a public offering of shares of Class A common stock, raising around $158 million in new capital. Standard & Poor’s also...
Endurance Raises $1.2 Billion, Begins Operations
Dec 18 2001 // Endurance Specialty Insurance Ltd., the new Bermuda-based insurer, backed by Aon and Zurich Financial Services (See IJ Website Nov. 8), announced that it has successfully raised $1.2 billion of capital through private...
IPC Holdings Raises $547 Million in Additional Capital
Dec 13 2001 // Bermuda-based property catastrophe reinsurer IPC Holdings, Ltd. announced that it had closed a public offering of its shares, and arranged a private placement with American International Group, that would provide it with...
Swiss Re Raises $3.62 Billion from Share, Bond Offering
Nov 20 2001 // Any doubts about the viability of capital offerings by reinsurers was erased with the announcement that Swiss Re had placed all of the shares it offered for sale, including all the shares provided to cover over-allotments,...
ITC Tournament Raises More than $25,000 to Help Fight Child Abuse
Nov 9 2001 // Bill DeMeulle, president of DeMeulle Insurance Agency Inc. and chairman of the Eighth Annual Insuring the Children Golf Tournament, announced this year’s ITC tournament raised more than $25,000 to help fund programs...
PartnerRe See 3Q Loss, Will Raise $350 Million
Oct 29 2001 // Bermuda’s PartnerRe, which already announced estimated net losses from the Sept.11 attacks of around $400 million, announced additional losses of around $25 million, and said it would report a third quarter operating...
RSA Raises Terror Loss Estimate to $289 Million
Oct 12 2001 // The U.K.’s Royal & Sun Alliance Insurance Group announced yesterday that it now expects its losses from the September 11 attacks on the U.S. will be around £200 million ($289 million) net of reinsurance...
America’s Survivor Relief Fund Raises Over $250,000
Oct 11 2001 // Contributions to America’s Survivor Relief Fund, created by the Independent Insurance Agents of America (IIAA) and the Independent Insurance Agents Association of New York (IIAANY) to benefit victims and surviving...
Friends Provident IPO Raises $5.3 Billion
Jul 10 2001 // Friends Provident ended its 169 years as a mutual insurer with a successful public offering on the London Stock Exchange which raised an estimated £3.8 billion ($5.3 billion). The newly investor owned company’s...
