Latest Funding Headlines
All the headlines from our Funding Topic Page, ordered by recency.
R&M Issues Study on Venture Capital D&O Indemnification
Mar 7 2006 // Dublin-based Research and Markets announced the addition of Director and Officer Indemnification and Insurance for VC (Venture Capital) Backed Companies to their offering. “Winning legal Strategies: Director and...
Curley Insurance Group’s Shamrock Shootout Raises $50,000
Feb 15 2006 // The 12th Annual Shamrock Shootout Golf Invitational raised $50,000 for two charities, St. Vincent de Paul Thrift Store of Dallas and the Integrated Education Fund of Northern Ireland. Dallas-based Curley Insurance Group,...
Calif. State Fund Raises More than $100,000 for United Way
Feb 14 2006 // California State Compensation Insurance Fund employees have raised more than $102,000 in donations for United Way in its annual Bay Area California State Employees Charitable Campaign Drive. Donations collected will help...
Safeco Announces $250 Million Share Repurchase Program
Feb 7 2006 // Seattle-based Safeco has executed a Rule 10b5-1 trading plan to purchase up to $250 million of its outstanding common stock. That will allow Safeco to repurchase its shares during periods when the company would normally...
Insuring the Children Golf Tournament Raises $4,500
Dec 20 2005 // The 2005 Insuring The Children Golf Tournament, which was held on Sept. 27, 2005 at California’s Santa Ana Country Club, has produced a net profit of $45,000, according to Edward F. Rochford of Chubb & Son and...
Everest Re to Raise $280 Million; S&P Affirms Ratings
Dec 5 2005 // The Everest Re Group announced from Bermuda that it has agreed to sell approximately $280 million of its common shares to Wachovia Securities, which will subsequently offer the common shares to public investors pursuant to...
Safeco Board of Directors Announces Share Repurchase Plan
Dec 2 2005 // Safeco has announced that its board of directors has increased the company’s share repurchase authorization to 10 million shares, including shares that remain available for repurchase under previously approved...
XL to Raise App. $2.8 Billion; Wilma Losses Estimated at $210 Net
Dec 2 2005 // Bermuda’s storm battered XL Capital Ltd. is taking a big step in its efforts to restore its somewhat diminished capitalization. According to A.M. Best, the insurer recorded $1.5 billion loss in the third quarter, and...
Wilma’s $6 Billion Cost to Insurers Raises Industry’s Catastrophe Loss Total to Record $50 Billion
Nov 29 2005 // U.S. property/casualty insurers are expected to pay an estimated $6.1 billion to Florida policyholders for insured property losses from Hurricane Wilma, pushing year-to-date catastrophe losses to $50.3 billion, an all-time...
AXIS to Raise $400 Million from Common and Preferred Share Sales
Nov 16 2005 // Bermuda’s AXIS Capital Holdings Limited announced that it has agreed to sell 6.8 million common shares in a block trade. It also intends to offer, subject to market conditions, a certain amount of preferred...
U.K.’s Omega Underwriting to Raise $157 Million; Forming Bermuda Sub
Nov 14 2005 // The U.K.’s Omega Underwriting Holdings PLC, a leading Lloyd’s insurer (Syndicate 958), has announced plans to raise £90 million ($157 million), both to increase syndicate capacity and to support the...
Max Re Plans 11 Million Share Offer; To Raise $265 Million in Capital
Oct 11 2005 // Bermuda-based Max Re Capital Ltd. became the latest reinsurer to go to the capital markets for more money in the wake of the losses from Katrina and Rita. The company announced that it plans, “subject to market and...
5TH Annual MHBT Charity Golf Classic Raises $45,000 for Local Charities
Oct 5 2005 // Dallas-based McQueary Henry Bowles Troy LLP announced today that its fifth annual charity golf tournament raised approximately $45,000 for The Trains at Northpark, benefiting the Ronald McDonald House of Dallas and...
Santa Rosa State Fund Office Raises $5K for Katrina Victims
Sep 21 2005 // State Compensation Insurance Fund’s Santa Rosa District Office has contributed approximately $5,300 to the Hurricane Katrina relief effort. The office’s Hurricane Katrina contribution is just one of many...
AARIS Employees Raise Nearly $179,000 for Katrina Relief Efforts
Sep 14 2005 // As part of an ongoing commitment to its community outreach programs, American All Risk Insurance Services announced that it has donated $178,939 to the American Red Cross Katrina relief efforts. “Giving back to our...
Conseco Raises $320 Million in Offering
Aug 15 2005 // Conseco Inc. on Monday closed its previously announced private offering of 3.50 percent Convertible Debentures due Sept. 30, 2035 and completed the amendment of its senior secured credit facility. The initial purchasers...
ABI Study Finds “Extreme Weather” Could Raise Losses to $27 Billion
Jun 30 2005 // The Association of British Insurers (ABI) has released a ground-breaking report, “Financial Risks of Climate Change,” which shows that the worldwide costs of major storms is likely to increase by as much as...
SCOR to Raise $282 Million to Fund IRP Purchase; Best Sees Ratings as Being Unaffected
Jun 23 2005 // France’s SCOR Group plans to issue 130 million new shares, raising around 201.5 million euros ($243.6 million) in new capital, primarily to fund the purchase of the outstanding shares of Irish Reinsurance Partners...
PartnerRe Update on Accelerated Share Repurchase
Apr 12 2005 // Bermuda-based PartnerRe Ltd. has announced final settlement of the accelerated share repurchase announced by the Company in December 2004. “Deutsche Bank AG London Branch has completed its purchase of 2 million...
Miss. Gov. Barbour Expected to Sign HB 722, Raise PIP Coverage to $25,000
Mar 28 2005 // Mississippi House Bill 722, a measure to increase motorists’ liability insurance coverage from $5,000 to $25,000 has been send by the House to Governor Haley Barbour for his signature. “It’s just asking...
