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.
Climate Change, Pollution Push Oceans to Tipping Point, UN Report Says 
Judge Won’t Bend on $256M Defamation/RICO Verdict Against Human Rights Lawyer 
Claimants of 23andMe Data Breach to Get $46.75M in Settlement Deal 
Hedge Funds Are Expanding Desks Designed to Profit From Natural-Catastrophe Risk 
