Insurers look after cap stacks as markets glow hot

By David Freitas, Tyler Davies
28 May 2020

European insurance companies were busy raising capital in every major currency this week, as they showed they were not willing to let a strong issuance window pass by them amid Covid-19.

Aviva, Phoenix Group Holdings and Swiss Re sold tier twos in sterling, dollars and euros respectively in the space of just two days.

The deals were among the best subscribed of the week, with $18.6bn of demand chasing the $2bn of supply the companies put up between ...

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