Lancashire and Fidelis secure capital boosts
Lancashire has raised £277m through the placing of 39.6 million new shares at a price of 700p per share – a 3.6% discount on its stock price at the close of Tuesday trading, while fellow specialist insurer and reinsurer Fidelis has announced that it has raised $500m (£392m) from existing investors, which it adds to $300m it raised in February.
The announcements follow similar moves from Hiscox and Beazley, which raised £375m and £247m respectively by issuing new shares in May.
Lancashire’s equity raise falls slightly short of the £287m the
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