ProSight Specialty Insurance has appointed Michael Furgueson as managing director of ProSight Managing Agency, succeeding Bernard Mageean, who has decided to step down due to personal reasons.
Furgueson takes up the post immediately, subject to all necessary regulatory approvals.
ProSight Managing Agency is the managing agent of ProSight Syndicate 1110 at Lloyd’s of London, as well as ProSight Specialty Underwriters Ltd.*
“Mike’s credibility as a leader with extensive international experience, multinational underwriting expertise and deep knowledge of the specialty insurance market makes him ideally suited to lead ProSight’s unique business model at Lloyd’s, as we strengthen our presence at Lloyd’s,” said Joe Beneducci, Chairman and CEO of ProSight Global, Inc.
“We are pleased to welcome Mike to our growing international leadership team and we look forward to his successful leadership of ProSight’s niche strategy internationally,” he said.
“We appreciate Bernard’s contributions during his tenure at ProSight and wish him the best of luck with his future endeavors,” said Beneducci.
*ProSight Specialty Managing Agency and ProSight Specialty Underwriters Ltd. constitute the international arm of ProSight Specialty Insurance, which was founded in 2009 by CEO Beneducci and is backed by affiliates of TPG Capital and GS Capital Partners. Through Syndicate 1110 at Lloyd’s of London, ProSight Specialty Managing Agency focuses on underwriting select niches such as entertainment, leisure & hospitality, technology, marine cargo, professional liability and property risks globally.
Source: ProSight Specialty Insurance
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