Flagstone Re in $175m New York IPO, European expansion
Class of 2005 Bermudian reinsurer, Flagstone Re has filed with the Securities and Exchange Commission for an initial public offering of shares to raise approximately $175m. Flagstone said it will apply to list the shares on the New York Stock Exchange under the symbol ‘FSR’.
In the submission Flagstone revealed that it wrote net premiums of $205m in the first half of 2006. Flagstone also said that it has incorporated a subsidiary, Flagstone Réassurance Suisse SA, which
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