Wellington Underwriting PLC in London reported that it will receive net proceeds of about $138.6 million from the sale of 6,000,000 Aspen shares.
Following the sale of these shares, Wellington will continue to hold 3,800,142 Aspen shares, as well as options to purchase a further 3,781,120 Aspen shares.
Wellington has said it plans to invest the funds to support its underwriting operations at Lloyd’s.
Was this article valuable?
Here are more articles you may enjoy.
Opportunity for Private Flood Insurers With Threat of Another NFIP Lapse 
Why Power Outages Do More Economic Damage Than We Think 
Owner of Assisted Living Home Where 10 Died in Fire Denied Access to Insurance Funds 
Accuweather: Winter Storm to Cause Up to $115B in Damage, Economic Losses 
