Gulf Insurance Group, a subsidiary of Travelers Property Casualty, has completed the previously announced investment transaction with Trident II, L.P.
A private equity fund, managed by MMC Capital, Trident will invest $125 million in the company in exchange for convertible preferred stock and notes. This increase in Gulf’s capital base will allow the company to expand its underwriting and marketing efforts at a time when the market for specialty lines presents significant opportunities.
Was this article valuable?
Here are more articles you may enjoy.
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot 
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B 
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims 
AWS Outage a ‘Moderate Incident,’ Another Near Miss for Insurance Industry 
