PE-Backed ProSight Taking NYMagic Private

ProSight Specialty Insurance Holdings Inc., a portfolio company of TPG Capital and GS Capital Partners, has agreed to acquire NYMagic Inc. (NYSE: NYM), a property and casualty insurance company that underwriters ocean marine, inland marine and non-marine liability insurance. The deal is valued at nearly $220 million, with NYMagic stockholders to receive $25.75 per share (23.5% premium to yesterday's closing price).

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