Insurance Gets Sexy

The stodgy business is rife with hot IPOs

APAC Teleservices Inc., whose sales have doubled in the past three years, went public last year at a price of 16, then soared to 88 before splitting 2 for 1 in May. SS&C Technologies Inc., whose revenues tripled in the past three years, initially filed in the 9-to-11 range but came out at 19. Riscorp Inc. also rolled out at 19 and traded as high as 24, a heady 36 times expected 1996 earnings.

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