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July 1, 2019, 7:17 a.m. EDT

Specialty insurer ProSight Global files for an IPO

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By Tomi Kilgore

ProSight Global /zigman2/quotes/213414925/composite PROS -0.24% filed Monday for an initial pubic offering of stock, although details on how many shares will be sold or at what price have yet to be determined. The New Jersey-based specialty insurance company said affiliates of the Goldman Sachs Group Inc. /zigman2/quotes/209237603/composite GS -3.27% and TPG Capital Management LP and other stockholders will also be offering shares. ProSight said it has applied to list on the New York Stock Exchange under the ticker symbol "PROS." Goldman Sachs, Barclays and BofA Merrill Lynch are the lead underwriters. The company recorded net income of $13.4 million on revenue of $213.0 million for the quarter ended March 31, up from net income of $10.0 million on revenue of $181.0 million a year ago. The company is looking to go public at a time the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO -1.94% has gained 1.9% over the past three months, while the SPDR S&P Insurance ETF /zigman2/quotes/205505650/composite KIE -1.27% has rallied 8.1% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.68% has tacked on 2.6%.

/zigman2/quotes/213414925/composite
US : U.S.: NYSE
$ 12.67
-0.03 -0.24%
Volume: 29,879
April 20, 2021 4:10p
P/E Ratio
25.11
Dividend Yield
N/A
Market Cap
$553.60 million
Rev. per Employee
$2.33M
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/zigman2/quotes/209237603/composite
US : U.S.: NYSE
$ 331.88
-11.21 -3.27%
Volume: 3.66M
April 20, 2021 4:00p
P/E Ratio
8.25
Dividend Yield
1.51%
Market Cap
$115.18 billion
Rev. per Employee
$1.31M
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/zigman2/quotes/207665280/composite
US : U.S.: NYSE Arca
$ 62.13
-1.23 -1.94%
Volume: 270,951
April 20, 2021 4:00p
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/zigman2/quotes/205505650/composite
US : U.S.: NYSE Arca
$ 37.99
-0.49 -1.27%
Volume: 102,999
April 20, 2021 4:10p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,134.94
-28.32 -0.68%
Volume: 2.29B
April 20, 2021 5:05p
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