Beazley Renews Capacity Support for Spring Partners’ Financial Institutions Business

Spring Partners, the London-based managing general agency platform, announced that insurer Beazley has renewed its capacity support for Spring’s financial institutions business for another 12 months from July 1, 2021.

Financial details of Beazley’s capacity provision were not disclosed.

“The relationship with Beazley has gone from strength to strength over the last year and we are delighted to continue this partnership,” commented Russel Kilpatrick, chairman of Spring.

“We have had an extremely successful first year and this demonstration of trust and support from a market-leading Lloyd’s syndicate is testament to the hard work and progress that has been made,” Kilpatrick continued.

“Renewing our financial institutions capacity with Beazley is very positive news for Spring and allows us to continue our journey to become one of the pre-eminent specialist MGAs in our chosen field of expertise. We are grateful for the confidence that has been shown in our business and look forward to continuing a long and mutually beneficial relationship with Beazley for many years to come.”

Adam Parr, Financial Institutions underwriter for Specialty Lines, Beazley Group, added: ‘We are delighted to partner with Spring for another year, and we hope this capacity for the next 12 months helps to support its ongoing success.”

Spring Partners, which purchases and develops MGAs, is a joint venture with independent Lloyd’s broker Aston Lark, which is backed by Goldman Sachs.

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Topics Mergers & Acquisitions