Spring Partners, a joint venture from broker Aston Lark, has announced its formation as a Managing General Agent platform.
Spring Partners, led by CEO Jeremy Miles and Chairman Russell Kilpatrick, has been created to invest in and create new MGAs.
“We are excited to be launching Spring Partners, aligning quality capacity with high grade underwriting professionals who are finely tuned to deliver underwriting profits that will form the bedrock of our business,” said Kilpatrick.
“We have been focused on a number of acquisitions and team lifts that will endorse our platform as a high value destination for entrepreneurial individuals.”
Concurrent to its launch announcement, Spring Partners has confirmed Neon Sapphire Underwriting as its first acquisition.
Created in 2013, Neon Sapphire is headed by CEO Nigel Brand and is set to re-brand to Neon Sapphire after completion of the deal.
Commenting on the purchase, Brand said, “We are excited to have been acquired by Spring Partners with their deep understanding of the MGA space and their experience of organisational development.
“I have worked with Russell Kilpatrick in the past and am looking forward to replicating this successful working relationship within Spring Partners.”
Spring Partner CEO Miles added, “We are delighted to have made our first acquisition. Neon Sapphire is a business that we believe in very strongly which is already demonstrating good levels of growth delivered by a great team.
“This first acquisition is a testament to our desire to search out and acquire already successful MGAs which have significant growth potential.”
Peter Blanc, Aston Lark Group CEO, added, “Aston Lark is delighted to be joint venture partners in the establishment of Spring Partners.
“I’ve always believed that being in partnership with talented individuals is a great route to success and the talent behind Spring Partners is clear to see. We look forward to seeing Russell and Jeremy build an exciting new venture in the MGA world and will lend them our full support along the journey.”