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New Issue: PURE places $34 million surplus note with asset manager
By Lisa Kerner
Charlotte, N.C., July 28 – Privilege Underwriters Reciprocal Exchange (PURE) completed a $34 million surplus note issuance to an asset manager.
Proceeds will be used to settle an intra-group surplus note and will effectively increase the policyholder surplus of the PURE Group by $34 million, according to a company news release.
Willis Capital Markets & Advisory acted as placement agent.
PURE is a policyholder-owned insurer based in White Plains, N.Y.
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