Property and casualty insurance provider, Liberty Mutual Agency Corp., filed with U.S. regulators to go public through a $100 million offering.
The company, which is owned by Liberty Mutual, said it will use proceeds from the offering to repay a portion of debt.
The Boston, Mass. based company offers commercial and personal property and casualty insurance coverage to small and mid-size businesses and individuals in the United States. It also provides contract and commercial surety bonds.
The company said its revenue rose 50.3 percent to $10.93 billion, helped by a rise in net premiums earned, which was up 44.4 percent to $9.98 billion.
The underwriters are led by Citigroup Global Markets and Merrill Lynch, Pierce, Fenner & Smith.
Liberty Mutual Agency plans to list under the symbol “LMA” on the New York stock exchange.