ProSight Specialty Insurance has completed its purchase of Lloyds coverholder TSM Agencies Ltd. and has hired the former CEO of Argo Internatinoal to lead the new enterprise.
ProSight Specialty Insurance is set to buy Lloyds coverholder TSM Agencies Ltd., allowing the niche insurer to provide services to U.S. customers with global risk.
An overriding theme of the latest wave of mergers and acquisitions in the insurance industry: strategic buys of specialty-flavored books is specialization.