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ProSight Global Priced, NYSE: PROS

Specialty property & casualty insurer backed by Goldman Sachs and TPG.

Industry: Financials

First Day Return: +21.9%

Industry: Financials

We are an entrepreneurial specialty insurance company that since our founding in 2009 has built products, services and solutions with the goal of significantly improving the experience and value proposition for our customers. In our view, property and casualty insurance companies and the independent agents who typically distribute their products have operated under a model where carriers have little direct connectivity to their customers and as a result, often have a limited ability and incentive to understand and service customers’ needs, or to innovate and adapt as those insurance needs change. As such, insurance products have often been viewed by customers as a commodity and the value they provide has historically been difficult for customers to accurately assess. However, technological advances better allow customers to discern and demand value, and we believe the ability of the industry to respond to this changing customer dynamic has become increasingly challenged. In light of this, we founded ProSight, with capital commitments from affiliates of each of Goldman Sachs and TPG as a different type of insurer that leverages customized technology infrastructure, underwriting expertise and unique niche focus to develop products, services and solutions that deliver distinct value to customers in the manner they prefer.
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IPO Data
IPO File Date 06/28/2019
Offer Price $14.00
Price Range $16.00 - $18.00
Offer Shares (mm) 7.9
Deal Size ($mm) $110
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 07/24/2019
Offer Price IPO Intelligence Only
Price Range IPO Intelligence Only
Offer Shares (mm) IPO Intelligence Only
Deal Size ($mm) $110
Lock-Up Date IPO Intelligence Only
Street Research IPO Intelligence Only
Underwriters
IPO Intelligence Only
Company Data
Headquarters Morristown, NJ, United States
Founded 2009
Employees at IPO 392
Website www.prosightspecialty.com

ProSight Global (PROS) Performance