Sands Point Risk Expands Reach Through Acquisition of BRM Specialty Markets

In a strategic move aimed at reinforcing its position in the insurance industry, Sands Point Risk has officially announced the acquisition of BRM Specialty Markets, a renowned managing general underwriter (MGU) specializing in medical stop-loss insurance. This merger is seen as a significant advancement for both organizations, promising to augment the innovative solutions they deliver within the sector.

A New Chapter for Both Companies

Sands Point Risk is backed by Avesi Partners and operates as a multi-program MGU platform. With the acquisition of BRM Specialty Markets, headquartered in Philadelphia, the company looks to strengthen its service offerings while maintaining the individual operational integrity of BRM. The latter will retain its established brand identity and the founding leadership team, which will continue to drive the firm forward.

Dennis Kearns, CEO of Sands Point Risk, expressed enthusiasm for the partnership, highlighting the benefits derived from BRM's respected reputation and expertise in the market. “We are excited to welcome BRM to the Sands Point family and will benefit greatly from their exceptional team, deep domain expertise and the reputation they have earned in the market,” said Kearns. This acquisition aligns with Kearns’ vision of growth through collaboration, focusing on enhancing BRM's capabilities while ensuring that the high-quality underwriting service that Sands Point is known for remains intact.

On the other hand, Roman McDonald, the Founder and Managing Partner of BRM, emphasized that the core values and objectives of BRM would remain unchanged. He stated, “Partnering with Sands Point allows BRM to propel our strategic vision to grow and scale, without changing the core of who we are.” This sentiment underscores the commitment both parties share towards continued excellence in customer service and industry integrity.

The Broader Vision

The strategic alliance between Sands Point Risk and BRM Specialty Markets is expected to create a unique platform that combines enhanced resources with specialized expertise in medical stop-loss insurance. Sands Point seeks to empower the operations of BRM by providing a comprehensive suite of resources, thereby fostering an environment conducive to innovation and growth in the insurance marketplace.

As a dedicated insurance platform, Sands Point Risk is focused on identifying and addressing the critical risks faced by businesses. The company aims to instill a sense of confidence within organizations, facilitating their ability to thrive even amid challenging market conditions. With a leadership team that possesses decades of experience spanning underwriting, legal expertise, mergers and acquisitions, and insurance product development, Sands Point is well-equipped to meet its clients' risk management needs.

BRM's legacy as an MGU founded by brokers for brokers emphasizes its deep understanding of industry challenges. The BRM team is committed to simplifying the stop-loss placement process while nurturing long-term partnerships based on trust and efficiency. Their collaboration with A-rated carrier partners aligns perfectly with their mission of delivering competitive insurance solutions that their clients can rely on.

Avesi Partners: A Supportive Ally

The acquisition is made possible through the strategic backing of Avesi Partners, a private equity firm that focuses on investing in family-owned and privately held companies. With an impressive portfolio exceeding $2 billion in committed capital, Avesi seeks to equip businesses with the necessary tools and resources to achieve their goals efficiently. Their involvement not only cements the financial aspect of this acquisition but also reflects a commitment to long-term growth for both Sands Point and BRM.

In conclusion, the merger of Sands Point Risk and BRM Specialty Markets represents a forward-thinking dynamic in the insurance landscape. By leveraging each other's strengths, they are set to create an innovative platform that enriches customer experiences and provides robust solutions to evolving market needs. This partnership is indeed a new beginning that promises exciting developments for all stakeholders involved.