Ark and White Mountains cancel $200mn investment deal
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Ark and White Mountains cancel $200mn investment deal

James Thaler
September 13, 2021
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Ark White Mountains logo Bermuda.jpg

White Mountains and Ark have terminated a plan for White Mountains to increase its stake in the specialty insurer, after Ark raised $70mn in debt last week.

In a securities filing on Monday, White Mountains said Ark had issued the subordinated notes – which qualify as Tier 2 capital, according to Bermuda’s solvency regime – last week.

The

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