ACE Bermuda Insurance Ltd. has agreed to sell 1,150,000 shares of Assured Guaranty Ltd. The proceeds of the sale will go to ACE.
“Following the closing of this offering and the related $150 million share repurchase that Assured Guaranty previously announced on December 7, 2006, ACE’s ownership in Assured Guaranty will be reduced to 19.2 million shares of Assured Guaranty’s common stock, or approximately 28 percent of outstanding shares,” said the announcement.
Was this article valuable?
Here are more articles you may enjoy.
Insurers Norfolk & Dedham of Massachusetts and Union Mutual of Vermont to Affiliate 
Soaring Insurance Costs Hit as US Buyers Finally Get a Break on Car Prices 
Cargo Owners in Baltimore Disaster Face ‘General Average’ Loss Sharing, MSC Says 
USAA to Lay Off 220 Employees 
