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 after sept. 11 by White Mountains Insurance Group, in conjunction with global reinsurance broker Benfield Grieg Group and Credit Suisse First Boston.
It specializes in facultative coverage for commercial property and property catastrophe reinsurance, and also writes marine, aviation, casualty, and personal accident risks. Jack Byrne, who heads White Mountains OneBeacon insurance division, also serves as Montpelier’s chairman.
Was this article valuable?
Here are more articles you may enjoy.
Roof Costs Soar Even as Claims Decline: Verisk 
Acrisure to Cut 2,250 Employees, Citing Advances in Technology and AI 
Entrepreneur’s Suit Says My Safe Florida Home Hurricane Shutters Are Fire Hazards 
Anthropic Plans Wide Release of Mythos-Level AI Models in Weeks 
