Bedell Cristin Guernsey has advised UK insurance broker Aston Lark on its acquisition, via its joint venture vehicle Spring Partners (Holdings), of Neon Sapphire Underwriting. Neon Sapphire, a licensed Guernsey insurance manager, was acquired from Neon Holdings UK.
Spring Partners, a joint venture with Aston Lark, was created in November last year to invest in existing managing general agents (MGAs) and create new ones. The acquisition of Neon Sapphire was the first acquisition for the new MGA platform.
The Bedell Cristin team worked with Eversheds Sutherland throughout the transaction and was led by Guernsey Managing Partner Kate Ovenden, assisted by Managing Associate Lee Osborne.