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(Bloomberg) -- Ategrity Specialty Insurance Co., a provider of excess and surplus insurance to small and midsize US companies, is exploring an initial public offering that could occur as soon as this year, according to people with knowledge of the matter. Most Read from Bloomberg State Farm Seeks Emergency California Rate Hike After Fires Transportation Memos Favor Places With Higher Birth and Marriage Rates Citadel to Leave Namesake Chicago Tower as Employees Relocate NYC’s Newest Transit Leader Builds a Worker-Driven Strategy San Francisco Wants Wealthy Donors to Help Fix Fentanyl Crisis The New York-based company is working with JPMorgan Chase & Co. and Barclays Plc on its potential listing, said the people, who requested anonymity to discuss confidential information. The company’s listing plans could change and no final decisions have been made, the people said. A spokesperson for Ategrity didn’t immediately respond to requests for comment.
Representatives for JPMorgan and Barclays declined to comment. Ategrity, led by Chief Executive Officer Justin Cohen, in September named W. R. Berkley Corp. alum Neelam Patel as its chief financial officer and named its chief underwriting officer Chris Schenk as president.
The company launched in 2018 with funding from Stuart Zimmer’s Zimmer Financial Services Group. An insurance company IPO would be a rarity on global exchanges, where just nine firms debuted last year and raised a combined $1.1 billion, according to data compiled by Bloomberg. The owners of British specialist insurance group Inigo Ltd. are exploring options including a potential sale of the business or a minority stake, as well as an IPO, though it’s less preferred, Bloomberg News reported last year. Most Read from Bloomberg Businessweek Orange Juice Makers Are Desperate for a Comeback Amazon and SpaceX Want In on India’s Satellite Internet Market Inside Elon Musk’s Attack on the US Government Believing in Aliens Derailed This Internet Pioneer’s Career.
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Ategrity Specialty Insurance Taps JPMorgan, Barclays for US IPO
February 05, 2025 09:28 PM GMT | By EODHD
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