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Bermuda Insurers Soak Up the Sun
Shares of Bermuda-based insurer Axis Capital Holdings (AXS Quote) were rising 14% on their debut of trading Tuesday.
Axis Capital sold 21.5 million shares at $22 a share, above its expected price range, for $473 million. The shares represent 15% of the company's equity. Morgan Stanley and Citigroup co-managed the deal. ...
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