Ironshore (IRSH.RC), an international specialty property and casualty insurer, officially withdrew its plans for an initial public offering on Friday.
The company originally filed in June 2014, withdrew the IPO in May 2015 after it was acquired by China's Fosun International for $2.3 billion, re-filed for a US IPO in July 2016, before it was again acquired in December 2016 by Liberty Mutual for about $3 billion.
IPOs from insurers have largely outperformed, including strong returns from last year's two offerings, large life insurer Athene (ATH; +33%) and specialty property and casualty insurer Kinsale Capital (KNSL; +129%).
The Hamilton, Bermuda-based company was founded in 2006 and booked $1.7 billion in sales for the 12 months ended March 31, 2016. The company did not disclose a proposed ticker or an exchange. BofA Merrill Lynch, Citi, J.P. Morgan and UBS Investment Bank were set to be the joint bookrunners on the deal.
