Heritage Underwriting has raised £15.4m, before expenses, through the listing of its shares on AIM, having earlier said it was looking to raise up to £18m.
The company said it will use the capital to support its planned growth in underwriting, capitalising on the favourable market conditions brought about by the 2005 hurricane season, and to support a new team in underwriting personal accident risks.
The company expects shares to start trading on August 1.
