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Barclays Capital tops insurance common equity offering rankings through Q3

Editor's note: S&P Global Market Intelligence has reclassified industries according to the Global Industry Classification Standard. The league table Data Dispatch articles are now based on the new industry classification and are not comparable with 2017 and prior league table Data Dispatch articles.

Barclays Capital Inc. managed to stay in the top spot of S&P Global Market Intelligence's insurance underwriter and broker common equity league table even though it did not earn any deal credit in the third quarter.

As the investment bank did after the second quarter, Barclays leads the insurance common equity ranking with $1.34 billion in deal credit. Seven investment banks earned common equity deal credit during the third quarter, all coming from one transaction: WellCare Health Plans Inc.'s $1.38 billion follow-on offering that closed Aug. 7.

SunTrust Robinson Humphrey Inc. was one of the i-banks on the WellCare deal and moved into sole possession of third place in the common equity league table after tying for that spot with Evercore Inc. and Citigroup Global Markets Inc. after the second quarter.

BTIG LLC and MUFG Securities Americas Inc. were also among the book managers on the WellCare deal. Neither company was previously ranked in the insurance common equity league tables in 2017 or 2018.

The other book managers on the WellCare deal were Bank of America Corp., Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC and Wells Fargo Securities LLC.

With $5.03 billion in deal credit from 32 offerings, Bank of America topped the debt offerings league table. J.P. Morgan Securities was second with $3.80 billion in deal credit from 20 offerings, and Wells Fargo Securities was third with $3.13 billion from 24 offerings.

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