Coaction Specialty raises $200 million
Specialty insurance group Coaction announced the completion of a ~$200 million capital raise.
The equity raise was led by existing investors TowerBrook Capital Partners and Further Global Capital Management.
Coaction, formerly ProSight, writes over $1 billion in annual premium across its casualty, excess casualty, multiline, executive lines, property, entertainment and binding authority verticals.
“This new capital will support our continued growth and demonstrates the strong ongoing support of our investor group. We have made significant progress executing our transformation plan over the past two years and continue to see abundant opportunities in the market to deploy the additional capital in a prudent and disciplined manner.” – Jonathan Ritz, CEO of Coaction.