ProSight Specialty Insurance Completes Acquisition of Lloyd’s Syndicate
Julian Enoizi Joins ProSight Specialty Insurance as Managing Director of ProSight Specialty Underwriters Ltd.
LONDON–(Marketwire – November 30, 2011) – ProSight Specialty Insurance announced today that it has completed the acquisition of Lloyd’s Coverholder TSM Agencies Ltd. (TSM) and 100% of the capacity rights to Lloyd’s Syndicate 1110.
The newly acquired entity, to be renamed “ProSight Specialty Underwriters Ltd.” will be led by Julian Enoizi, who joins ProSight as Managing Director reporting to ProSight’s global CEO, Joseph Beneducci. Mr. Enoizi was previously President and CEO of Argo International and, prior to that, President and CEO of CNA Europe. Mr. Enoizi’s full biographical details and photograph can be found on ProSight Specialty’s website.
This acquisition enables ProSight Specialty Insurance to provide global solutions to its U.S. customers and distributors and expand its unique business model to global markets. ProSight Specialty Underwriters Ltd. will also continue to build on its core underwriting expertise in engineering and power risks.
“With the acquisition complete, we can now focus on expanding ProSight’s unique business model globally,” said ProSight CEO Joseph Beneducci. “Being a member of the Lloyd’s community affords us exceptional global flexibility and the benefits of Lloyd’s strong rating and reputation. I’m excited about our global business opportunities and am delighted to welcome Julian Enoizi and the employees of TSM into the ProSight family.”
About ProSight Specialty Insurance
ProSight Specialty Insurance was founded by CEO Joseph Beneducci in 2009 and is backed by affiliates of TPG Capital and GS Capital Partners. ProSight Specialty Insurance focuses on niche markets where it has differentiated underwriting and claims expertise and partners exclusively with specialist distributors who have a deep understanding of their customers. More information about ProSight Specialty Insurance can be found on its website at https://www.prosightspecialty.com.