Reinsurance News
ProSight Global
ProSight rebrands as Coaction Specialty
21st April 2022
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 ... Read the full article
ProSight hires Markel’s Hunter Morgan as SVP of Excess Casualty
7th December 2021
Specialty insurer ProSight Global, Inc. has appointed Hunter Morgan as Senior Vice President (SVP) of Excess Casualty, reporting to the company's President, Tim Ryan. Morgan brings more than 18 years of insurance underwriting experience to his new role. He joins ProSight from Markel Corporation, where he most recently served as Senior Director ... Read the full article
ProSight Global partners with Cenata for reinsurance solution
23rd August 2021
ProSight Global has entered an agreement with Cenata, an insurtech software provider, to use its outwards reinsurance solution, Cenata SURE. Cenata SURE is a full cycle outwards reinsurance management solution, able to take and process real time premium and claims data from multiple inwards systems to provide real-time analysis irrespective of ... Read the full article
Jonathan Ritz named CEO of ProSight amid private equity takeover
5th August 2021
Jonathan Ritz has been named as Chief Executive Officer (CEO) of specialty insurer ProSight Global, following the acquisition of the company by investment management specialist TowerBrook Capital Partners and private equity firm Further Global Capital Management. TowerBrook and Further Global recently announced the completion of their takeover, having first agreed ... Read the full article
Enstar subsidiary inks reinsurance contract with ProSight Global
4th August 2021
A subsidiary of legacy specialist Enstar Group has secured a deal with ProSight Global to provide reinsurance relating to 2019 and prior year business. In signing the deal, ProSight will receive a ground up loss portfolio transfer of discontinued workers’ compensation and excess workers’ compensation lines, as well as adverse development ... Read the full article
ProSight to be acquired by TowerBrook & Further Global in $586mn deal
15th January 2021
Specialty insurer ProSight Global, Inc. is to be acquired by affiliates of international investment management firm, TowerBrook Capital Partners L.P. and Further Global Capital Management, a private equity firm with a focus on the financial services industry. Affiliates of TowerBrook and Further Global have signed a definitive merger agreement to acquire ... Read the full article
ProSight posts record income in Q2
12th August 2020
Property and casualty insurer ProSight Global has posted record net income of $17.6 million during the second quarter of 2020, helped by strong investment returns. Income compared with $8.62 million for the same period in 2019, while investment income was $23.8 million this year versus $17.4 million previously. Combined ratio was record ... Read the full article
Investment gain offsets dip in underwriting at ProSight in Q4
25th February 2020
A strong investment result in the fourth-quarter of 2019 more than offset a decline in underwriting income at ProSight Global, Inc., helping the company record an increase in net income from continuing operations to $14.7 million. The firm's net income for the quarter improved on the $13.5 million recorded for the ... Read the full article
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