Imagine Completes US$100 Million Share Issue

The Bermuda-based Imagine Group, a specialty insurance and reinsurance company, announced that it has completed a $100 million private placement of common shares with institutional investors.

“The proceeds from the offering will be used to support the growth of the company’s business and increases Imagine’s capital base to in excess of US$500 million as of today,” said the bulletin.

President & CEO Brad Huntington commented: “We are pleased to complete this financing and broaden our shareholder base. The additional capital will allow us to take advantage of opportunities in the insurance and reinsurance marketplace, furthering our growth strategy and our goal to become a preeminent specialty reinsurance group.”