Insight and Intelligence on the London & International Insurance Markets

19 March 2018

Search archive

Assurant preferred sale raises $277M for Warranty deal

Ted Bunker 13 March 2018

Specialty carrier Assurant has raised net proceeds of $276.7mn from a sale of preferred shares to help finance its acquisition of The Warranty Group (TWG).

The offering of over 2.87 million 6.5 percent series D mandatory convertible shares included 375,000 shares to cover over-allotments, the full amount available for the deal, the New York-based insurer said late yesterday.

The deal priced at $100 per share, putting the value of the transaction at $287.5mn.

Assurant's net proceeds include underwriting discounts and...

If you are a non-subscriber but would like to be able to view this article, then please go to our Publications page for further information on joining our readership


Euromoney Trading Limited - 3rd Floor, 41 Eastcheap, London, EC3M 1DT, United Kingdom. The content of this website is copyright of Euromoney Trading Limited 2018. All rights reserved Euromoney Trading Limited actively monitors usage of our website and products and reserves the right to terminate accounts if abuse occurs.