October 23, 2012

ProSight Specialty Underwriters Ltd. Announces the Appointment of Paul Cusition as Active Underwriter

LONDON, UK – October 23, 2012 — ProSight Specialty Underwriters Ltd. (‘ProSight’), is pleased to announce the appointment of Paul Cusition as Active Underwriter of Syndicate 1110 at Lloyd’s.  Mr Cusition in his capacity as Syndicate 1110 Active Underwriter will report to Paul Hunt, the Underwriting Director of Argenta Syndicate Management Ltd, which acts as the Managing Agent for Syndicate 1110.

With more than 30 years of insurance industry experience, Mr. Cusition joins ProSight from ANV, where he was Global Head of Professional Indemnity. Prior to this, he spent 12 years at Travelers Insurance, where his role as Chief Underwriting Officer, International, encompassed the UK, Irish, Lloyd’s and Canadian markets.  Mr. Cusition also has significant experience in building and managing U.S. businesses and began his insurance career at Sun Alliance Group, spending 17 years at the Group, latterly as Director of Royal & Sun Alliance’s Global Risks Division. Mr. Cusition is also a qualified accountant.

“Since we established ProSight’s operations in London, we have been building a strong team and a quality book of business,” said Julian Enoizi, Managing Director of ProSight Specialty Underwriters Ltd. “Paul Cusition has an exceptional track record in underwriting and building profitable businesses, making him ideally-suited to the active underwriter role and a fantastic addition to our senior team.  Although much of his career has been spent in the Lloyd’s and London Markets, he has significant experience outside EC3, which adds an extra perspective to our underwriting approach.”

“ProSight is ambitious company with a real commitment to growth and product development in the particular niches it serves, which is an exciting prospect,” said Paul Cusition. “I look forward to working with Julian and the underwriting team at ProSight to grow this innovative specialty business.”

ProSight Specialty Underwriters Ltd focuses exclusively on markets where it has unique expertise and currently writes engineering, power, film and entertainment, liability and property business.

About ProSight Specialty Underwriters Ltd.

ProSight Specialty Underwriters Ltd. is the international arm of ProSight Specialty Insurance. Operating as a coverholder for Syndicate 1110 at Lloyd’s of London, ProSight Specialty Underwriters Ltd. focuses on underwriting Entertainment, Marine Cargo, Professional Liability and Energy & Power risks globally.

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.

Argenta Syndicate Management Limited

Lloyd’s Managing Agent, Argenta Syndicate Management Limited (ASML) manages aggregate underwriting capacity of £280 million for 2012.  The company is a subsidiary of Argenta Holdings Plc which owns a number of Lloyd’s related businesses and amongst these, ASML provides turnkey managing agency services to start up syndicates.