Insurance Appoints Chief Risk Officer for UK Subsidiary
ProSight Specialty® Insurance Appoints Chief Risk Officer for UK Subsidiary
MORRISTOWN, N.J., April 5, 2016 /PRNewswire/ -- ProSight Specialty® Insurance, a fast-growing property and casualty insurance company that brings innovation to the traditional world of insurance protection, is pleased to announce the appointment of Vivek Syal to the role of chief risk officer (CRO), ProSight Specialty Managing Agency Ltd-Syndicate 1110 (PSMAL). Syal joins from the UK's Prudential Regulatory Authority (PRA) where he was responsible for oversight of Solvency II.
"We are pleased to welcome Vivek to the ProSight leadership team," said Michael Furgueson, Managing Director, ProSight Specialty Managing Agency Ltd—Syndicate 1110. "Vivek brings with him a wealth of risk, regulatory and business experience to support the execution of our strategy. His background and experience—both in the Lloyd's and London Market and more widely in ERM—makes him an ideal addition to the ProSight leadership team," added Furgueson. Syal will also be joining the managing agency's board of directors, subject to regulatory approvals.
"I am very pleased to be working at ProSight and am already extremely impressed by the caliber of the people here," said Vivek. He added, "This is an exciting time for ProSight, and I am looking forward to helping build on the progress already underway."
ProSight Specialty Insurance was founded by industry veteran CEO Joe Beneducci, with the explicit purpose of introducing innovation to the commercial property and casualty insurance market. ProSight designs solutions that help solve customers' problems, so each solution is targeted to enhance customers' operating performance. ProSight focuses on select niche industries, deploying differentiated underwriting and claims expertise, and then works exclusively with specialized distributors to deliver value. ProSight is fueled by a cultural desire to succeed at uncommon challenges, making the business performance of its customers a top priority. The underwriting members of the ProSight Specialty Insurance (ProSight) group of companies are rated "A" (Excellent) by A.M. Best. ProSight also operates Syndicate 1110 at Lloyd's of London, which is rated "A+" (Strong) by Standard & Poor's. Based in Morristown, NJ, ProSight has regional offices in Los Angeles, CA, Santa Rosa, CA, New York, NY, and London, England. More information about ProSight and its member insurers can be found at www.prosightspecialty.com. Follow us at @ProSightCorp and ProSight Specialty Insurance.