Wellington Underwriting PLC in London reported that it will receive net proceeds of about $138.6 million from the sale of 6,000,000 Aspen shares.
Following the sale of these shares, Wellington will continue to hold 3,800,142 Aspen shares, as well as options to purchase a further 3,781,120 Aspen shares.
Wellington has said it plans to invest the funds to support its underwriting operations at Lloyd’s.
Was this article valuable?
Here are more articles you may enjoy.
North Carolina Becomes First State to Pass Outright Ban on Litigation Financing 
‘Ghost Broker’ Who Procured 1,120 Policies Through Fraud Arrested 
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
US P/C Rebounds to Post Q1 Underwriting Gain; Net Income Doubles 
