Infinity Property and Casualty, the US auto insurer, has had to put its initial public offering (IPO) off until next week, fuelling fears that the deal might be pulled.

Infinity failed to price its long-awaited IPO by Thursday evening. Despite a second cut in the indicated price range earlier this week, investors have not stepped up to guarantee demand for the sale. The latest price talk is $18 (€17) to $20 a share, indicating a sale of $223m to $248m. Infinity originally wanted to raise up to $300m.