ProSight Global, a property and casualty insurance company, has written more than $19 million in its captive solutions since launching at the start of this year.
It was announced in January that ProSight would expand its insurance solutions into the captive insurance market.
Anthony Ciofani, alternative markets officer at ProSight, stated: “We are excited about our entry into the captive market.”
He revealed that since ProSight’s captive launched earlier this year, it has written $19.7 million on a year-to-date (YTD) basis.
Ciofani outlined that currently, it has four captives onboard and three others being launched shortly.
“In addition, we have numerous high-quality opportunities in the pipeline,” he added.
Ciofani explained: “We see this a direct extension of our niche-driven approach to business in that these customer groups are taking that ‘next step’ in terms of controlling their own risk management expense, and we are happy to help and provide whatever support and guidance they require.”
Recently, ProSight reported that Q3 2020 was the largest catastrophe quarter in the company’s history.
