Insurance start-up has sights on growth
Richard Newman | The Record/NorthJersey.com
* Morristown-based firm excels with specialty coverage.
How could anyone start an insurance company from scratch and five years later employ 350 people and be on track to generate $700 million globally in annual premiums?
It takes expertise, deep industry connections and backing from “very big, very sophisticated” investors, including Goldman Sachs and Texas Pacific Group, said Joe Beneducci, founder and CEO of ProSight Specialty Insurance. Specialties include concert tours by some of the world’s top-grossing artists, Hollywood film productions, transportation, energy, and others.