Prosight sale process launches

US specialty insurer ProSight has started soliciting buyers
ahead of a formal auction, The Insurance
Insider can reveal.
In September, this publication reported that the bank's
private equity arm GS Capital Partners, which owns 50.1 percent of
the business, was in the early stages of exploring a sale along
with TPG Capital and the insurer's staff who own the remaining
portion of the business.
Now it is understood that the investment banking arm of Goldman
Sachs sent out investor memoranda...