Law360, New York (May 13, 2013, 1:23 PM EDT) -- British life insurer Partnership Assurance Group PLC is poised to go public in an offering that could value the company at as much as $1.5 billion, The New York Times reported on Monday. The private equity-backed company had announced its intention to hold an initial public offering, but has not publicly outlined that it plans to raise about $380 million by selling off 25 percent of its shares. PAG is majority-owned by Cinven. The IPO is expected by the end of June.
Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.