Reinsurance News

Beat Capital launches specialist environmental MGU Magnolia Grove

2nd August 2022 - Author: Matt Sheehan

Beat Capital Partners, a long duration investor specializing in the insurance industry, and Justin Crawford, former head of DUAL’s environmental business, have together announced the launch of Magnolia Grove Insurance Services.

Magnolia Grove will focus on the environmental insurance marketplace, offering coverage to SMEs in the US on E&S lines for Contractors Pollution, Site Pollution, Products Pollution, Commercial General Liability, Professional Liability and Follow Form Excess Liability.

Crawford, who will serve as President and CEO of the new MGU, has previously held senior underwriting positions at DUAL, ACE Group (now Chubb), and OneBeacon Insurance (now Intact Specialty Solutions).

Magnolia Grove policies will be written on “A” AM Best-rated E&S paper by a carrier recently established by Trean Insurance Group, Inc.

“I am tremendously excited to launch Magnolia Grove and offer brokers a market they can truly partner with to provide their clients environmental insurance solutions,” said Crawford.

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“With backing and support from Beat, I am confident Magnolia Grove will become the go-to solution for the SME environmental market.”

April Galda Joyce, CEO of Beat Capital Partners Americas, also commented: “Beat is delighted to support Justin in the formation of Magnolia Grove.  He brings an outstanding underwriting reputation and devotion to customer service, and he’s yet another great example of how Beat is attracting market leading underwriters and helping them build their own businesses.”

Magnolia Grove’s offering is available in selected states with plans to expand to the remaining states over the course of this year. It represents Beat Capital Partners’ first US franchise, joining the eight franchises Beat has established across the UK and Bermuda.

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