By NEIL HARTNELL

Tribune Business Editor

RoyalStar Assurance yesterday formally unveiled its $5 million preference share issue, a move designed to maintain balance sheet cash reserves at $25 million as it moves to fund the construction/refurbishing of its planned new Thompson Boulevard headquarters that will open in 2012.

Steve Watson, the general insurance underwriter's managing director, told Tribune Business that he expected the private placement to be "fully subscribed" given the carrier's profitability track record, adding that this would give it $40 million in capital and a solvency margin "in excess of 250 per cent".

Explaining the rationale for the issue, Mr ...

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