Vesta Insurance Group, Inc. of Birmingham, Ala. has exercised demand registration for approximately 3.0 million of its 7.2 million shares of Affirmative Insurance Holdings, Inc. common stock.
Vesta intends to sell approximately 3.0 million shares of Affirmative currently owned by Vesta’s holding company and use the proceeds to repay its $30 million credit facility as well as provide additional capital to further support its property-casualty operations.
Vesta is a holding company for a group of insurance and financial services companies that offer a wide range of consumer-based products.
Was this article valuable?
Here are more articles you may enjoy.
Viewpoint: Why Brokers Have Little to Fear and Everything to Gain From AI 
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims 
