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Barclays leads insurance common equity offering rankings through H1'18

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. remains in the top spot of S&P Global Market Intelligence's insurance underwriter and broker common equity league table at the halfway point of the year.

The investment bank placed first in the same league table rankings after the first quarter, and raised its total deal credit to $1.34 billion after serving as a book manager on Centene Corp.'s $2.86 billion common stock offering that closed on May 1.

Wells Fargo Securities LLC jumped to second with $829.6 million in deal credit for book manager roles on the Centene offering and a $1.03 billion follow-on stock offering by Brighthouse Financial Inc. that was completed on June 14.

Citigroup Global Markets Inc., Evercore Inc. and SunTrust Robinson Humphrey Inc. also served as book managers on the Centene offering, sharing third with $572.0 million in deal credit through June 30.

Wells Fargo Securities topped the preferred equity league table with $708.3 million in deal credit from six offerings.

In the second quarter, the investment bank was a book manager on RenaissanceRe Holdings Ltd.'s $250.0 million offering that closed on June 11, Enstar Group Ltd.'s $400.0 million offering that closed on June 20 and MetLife Inc.'s $805.0 million offering that closed on May 30.

Morgan Stanley & Co. LLC also landed book manager roles on the RenaissanceRe, MetLife and Enstar offerings and ranked second in the preferred equity league table with deal credit of $583.3 million. Bank of America Corp. finished third with $532.5 million in deal credit from four offerings.

With $3.24 billion in deal credit from 25 offerings, Bank of America led the debt offerings league table. Morgan Stanley was second with $2.92 billion in deal credit from 23 offerings, while Barclays Capital was third with $2.66 billion from 17 offerings.

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