The Australian market's appetite for general insurance agency and broker floats remains undiminished. Less than 2 years after Steadfast Group's debut on the ASX and a little over a year since Lenders Mortgage Insurer Genworth's listing, Hollard Group seek to float their Australian arm, Greenstone
Greenstone aims for $1 billion IPOPublished: 8:24 am, Tuesday, 26 May 2015 Macquarie Capital and Goldman Sachs are gearing up for a new entry on the ASX. Tha banks are joint lead managers of the insurance group Greenstone, which is aiming to raise between $800 million and $1 billion when it launches its initial public offering on the 16th of June.Buy-in price is being targeted between $2 and $2.50 a share, and it's shaping up to be one of the biggest floats of the year.The Sydney-based life and pet insurer acts as an agent for overseas underwriters, so it does not bear any underwriting risk itself. Greenstone is also the owner of insurance market comparison site - Choosi.