Privately-owned specialty property & casualty (P&C) insurer, ProSight Global, Inc. (ProSight) has announced that it has rebranded as Coaction Specialty – a wholly-owned subsidiary of Coaction Global, Inc. (Coaction), effective immediately.
As part of the rebrand, and demonstrating its commitment to addressing Environmental, Social, and Governance (ESG) issues, Coaction has also converted to a Public Benefit Corporation (PBC), making it the very first commercial P&C insurer to do so.
The PBC structure will also enable Coaction to consider emerging important issues, such as diversity, climate, and inclusion, in decision-making while continuing to strive to achieve profitable growth for its key constituents.
In the entertainment business specifically, Coaction is focused on ensuring continued delivery of the exceptional value the market has come to expect.
In a press release, it says that the company looks forward to future success through its product offerings which it believes will provide increased diversification benefits, enhanced competitiveness in the marketplace, and the opportunity to sustainably serve additional customers.
CEO of Coaction, Jonathan Ritz, commented: “Coaction remains committed to its existing distribution relationships and expects to further expand its strategic wholesale partnerships to support its vertical alignment in casualty, multi-line, executive liability, property, and entertainment businesses.”
