A team of ex-Dual executives have launched managing general agent (MGA) Sands Point Risk, specialising in transaction liability insurance (TLI).

Sands Point Risk has announced the commencement of its operations with a dedicated TLI practice.

The new venture, which is backed by private equity investor Avesi Partners, aims to capture opportunities across financial and P&C insurance lines of business.

With the TLI practice, Sands Point will provide a comprehensive range of products including representation and warranties, tax liability and contingent liability insurance.

The offerings are aimed at safeguarding entrepreneurs, investors and industry stakeholders while managing transaction risks.

The senior leadership team at Sands Point is composed of seasoned professionals with a proven track record in TLI.

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By GlobalData

Sands Point’s team is led by CEO Dennis Kearns, executive vice-presidents Patrick Darragh and Dan Simnowitz, and chief operating officer JoAnna Conte.

Kearns has more than 25 years of experience in underwriting, product development, policy drafting and claims.

Before joining Sands Point, Kearns set up the transaction solutions programme at Dual.

Darragh brings more than two decades of experience in underwriting, focusing on transactional risk and management liability for directors and officers insurance for both public and private companies.

Simnowitz, with a 17-year tenure in the insurance industry, has held various roles and was part of the leadership team for the Transaction Solutions programme at Dual.

Conte brings more than 20 years of experience across commercial underwriting, specialty operations and technology solutions within the insurance industry.

Sands Point Risk chief executive officer Dennis Kearns said: “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.

“Sands Point is committed to delivering exceptional underwriting and service to help our customers navigate risk exposures arising from M&A [mergers and acquisitions], tax treatments and litigation. 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 specialised insurance lines as we build out the Sands Point platform.”