ProSight pivots from group auction to Lloyd's sale

ProSight's board has called off efforts to auction the group
and has instead appointed a bank to sell off its Lloyd's arm,
The Insurance Insider can reveal.
ProSight's private equity owners, GS Capital Partners and
TPG Capital, launched a sales process in January, but did not
secure the premium valuation they were looking for and have opted
to not to exit the company completely.
The board, including chairman and CEO Joe Beneducci, has instead
drafted in GC Securities in London...