It is the end of an era for Axis Capital with the announcement that lead founding investor, Stone Point Capital-managed Trident II, has put its remaining holding in the Bermudian (re)insurer up for sale for $108mn.
The sale of 2.7 million Axis shares at $39.50 per share in a secondary offering underwritten by UBS Investment Bank represents a 2 percent discount to the 8 February closing price of $40.30 on the New York Stock Exchange.
Trident II led the formation...
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