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Investment bank Keefe, Bruyette & Woods Inc., a subsidiary of Stifel Financial Corp., has acquired Wilmette, Illinois-based insurance research firm Cagney Research Group Inc.
A spokeswoman for New York-based KBW on Thursday declined to disclose the terms of the deal.
Richard Cagney, former principal of Cagney Research Group, joins KBW as managing director of insurance in its equity group, the firm announced Tuesday in a statement. He will be based in Chicago.
“KBW is committed to expanding and honing our focus on insurance to meet increased investor demand for access to this sector,” John P. Ragan, KBW executive vice president and global director of equities, said in the statement. “The KBW Insurance Index (KIX) is up nearly 84% in the past three years. We will continue to augment our efforts to provide our clients best-in-class resources in this space.”
(Reuters) — James River Group Holdings Ltd., a Bermuda-based insurance holding company, filed for an initial public offering of common shares that would raise up to $288 million.