Bedell Cristin Guernsey has advised Aston Lark on its acquisition, via its joint venture vehicle Spring Partners Limited, of Neon Sapphire Underwriting Limited, a licensed Guernsey insurance manager, from Neon Holdings UK Limited.
In November 2020, a new managing general agent (MGA) platform was created with the arrival of Spring Partners Limited. Spring Partners, which is a joint venture with Aston Lark, was created to invest in existing MGAs and create new ones and the acquisition of Neon Sapphire was the first acquisition for the new MGA platform.
The Bedell Cristin team worked closely with Eversheds Sutherland throughout the transaction and was led by Guernsey Managing Partner, Kate Ovenden, assisted by Managing Associate, Lee Osborne.
Kate Ovenden commented: “We were delighted to act as Guernsey advisers to Aston Lark on the first acquisition for the MGA platform involving a strong local insurance business and we wish Neon Sapphire every success in the future”.
