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.
Planet-Warming El Niño to Form by September, US Forecasters Say 
Georgia Teacher Killed When Toilet Paper Prank by Students Goes Wrong 
Fund Trying to Turn New Mexico Desert into an Advanced Tech Hub 
Lilly Flags Safety Risk in Compounded Zepbound Mixed With Vitamin B12 
