Reliance Surety Group has asked Securities and Exchange Commission (SEC) regulators to withdraw its proposal for an initial public offering. The back-tracking is a result of the parent company’s recent deal with Travelers Casualty and Surety Co. to sell off its surety and fidelity business. Reliance Group Holdings made the agreement with Travelers in late February for approximately $580 million. Reliance Surety had filed its IPO plans with the SEC in late October 1999, and had planned to raise as much as $100 million.
Was this article valuable?
Here are more articles you may enjoy.
California Governor Signs Act to Create Smoke Damage Presumption 
Humans Still Matter to Insurance Consumers, Says Big ‘I’ Survey 
Appeals Court Throws a Wrench into Part of Georgia’s 2025 Tort-Reform Law 
FBI Confirms Data Was Breached in Cyber Attack on Springfield Schools From This Issue
