PROSIGHT ACQUIRES LLOYD'S SYNDICATE

ProSight Specialty Insurance has completed its acquisition of Lloyd's coverholder TSM Agencies Ltd, including 100% of the capacity rights to Lloyd's Syndicate 1110. The US-based company, which is backed by Goldman Sachs, also announced that Julian Enoizi is joining ProSight Specialty Insurance as Managing Director of ProSight Specialty Underwriters Ltd, the acquired and renamed Lloyd's managing agency. Mr Enoizi was previously president and chief executive of Argo International. The deal enables ProSight to provide global solutions to its US customers and distributors and expand its business model to global markets, the company said in a statement. "Being a member of the Lloyd's community affords us exceptional global flexibility and the benefits of Lloyd's strong rating and reputation," said ProSight chief executive Joseph Beneducci.