Content area
Full text
TOP NEWS IN GLOBAL INSURANCE
* State Farm Mutual Automobile Insurance Co. has selected India-based HCL Technologies Ltd. to "reimagine its IT service desk and infrastructure operations." The U.S. auto insurer said some State Farm employees supporting this work will transfer to HCLTech. State Farm declined to release the number of employees that will be affected when asked by WGLT.
* Skyward Specialty Insurance Group Inc. has priced its upsized initial public offering of 8,952,383 common shares, with 4,750,000 shares being offered by Skyward Specialty and 4,202,383 shares being sold by selling stockholders, at a public offering price of $15.00 each. The underwriters have a 30-day option to purchase up to an additional 1,342,857 common shares from the selling shareholders at the public offering price, less underwriting discounts and commissions, for implied gross proceeds of $154.4 million. The offering is expected to close on or about Jan. 18, subject to customary closing conditions. The expected price per...