JERSEY CITY, N.J., Jan. 23, 2024 (GLOBE NEWSWIRE) — An underwriting team that is widely recognized as leaders in the Transaction Liability Insurance (“TLI”) industry is pleased to announce the launch of Sands Point Risk (“Sands Point” or “the Company”). Sands Point is a managing general agent (“MGA”) focused on supporting expanded opportunities across financial and property and casualty insurance lines. With its flagship TLI practice, Sands Point will offer a full suite of products in TLI, including Representation and Warranties, Tax Liability and Contingent Liability Insurance. The Company’s TLI solutions are designed to protect entrepreneurs, investors and industry stakeholders and uniquely manage transaction risks.
The Sands Point senior leadership team, which is comprised of highly successful professionals in TLI, has collectively underwritten thousands of transactions involving strategic and private equity buyers and sellers spanning all sizes and across numerous industries. Sands Point brings together a veteran leadership team widely known to the industry:
- Dennis Kearns (Chief Executive Officer) brings more than 25 years of experience in underwriting, product development, policy drafting and claims. Prior to Sands Point, Dennis founded the Transaction Solutions program at DUAL, where he oversaw the expansion of its Representations and Warranties, Tax Liability and Contingent Liability Insurance offerings, producing a total gross written premium exceeding $600 million.
- Patrick Darragh (Executive Vice President) has more than 20 years of experience in underwriting, including transactional risk and management liability for both public and private company Directors and Officers Insurance (“D&O”).
- Dan Simnowitz (Executive Vice President) has spent his entire 17-year career in the insurance industry in a variety of roles, most recently as a member of the leadership team for the Transaction Solutions program at DUAL.
- JoAnna Conte (Chief Operating Officer) touts more than 20 years of insurance industry experience across Commercial Underwriting, Specialty Operations and Technology Solutions.
“In addition to a world class leadership team, Sands Point is fortunate to have the tremendous support of private equity firm Avesi Partners, which was instrumental in our formation and will provide significant financial support and access to its resources and expertise. We are also grateful for the immense support we’ve received from key stakeholders in the TLI space,” said Sands Point Risk Chief Executive Officer Dennis Kearns. “Sands Point is committed to delivering exceptional underwriting and service to help our customers navigate risk exposures arising from M&A, tax treatments and litigation. We’re eager to deliver the high-level of service our customers have come to expect from our team. Our goal is to help entrepreneurs anticipate and mitigate transaction risk and drive profitable underwriting results. We will also be looking for opportunities to deliver this same level of best-in-class underwriting and customer service in other specialized insurance lines as we build out the Sands Point platform.”
About Sands Point Risk
Sands Point Risk is a uniquely focused insurance platform supporting expanded opportunities for managing general underwriters in a variety of insurance offerings in the financial and property & casualty insurance space. The Company’s Transaction Liability Insurance offering is designed to protect entrepreneurs, investors and industry stakeholders involved in mergers, acquisitions, divestitures or other major corporate transactions as well as help manage risks associated with potential breaches of representations, warranties, or indemnities made by the seller in the transaction agreement. For more information, please visit sandspointrisk.com.
About Avesi Partners
Avesi Partners is a leading private equity investment firm with $880 million of equity capital under management. Based in Stamford, CT with an office in Richmond, VA, Avesi focuses on partnering with lower-middle market, privately-held, and family-owned businesses in key sectors of the economy, including healthcare, insurance, technology, and business services. Avesi seeks to provide the expertise and resources to empower businesses to attain their full vision in a time and capital efficient manner. Avesi collaborates with families, founders, and executives in an effort to accelerate growth and expansion, while positioning businesses to achieve long-term success and enduring value. Additional information is available at avesipartners.com.
Media Contact:
KCSA Strategic Communications
Ellen Mellody
570-209-2947
sandspoint@kcsa.com
