Beat Capital Partners launches specialist environmental MGU Magnolia Grove with Justin Crawford as President and CEO
CHARLOTTE, North Carolina, August 2, 2022 – Beat Capital Partners (“Beat”), a long duration investor specializing in the insurance industry, and Justin Crawford, former head of DUAL’s environmental business, today announce the launch of Magnolia Grove Insurance Services (“Magnolia Grove”).
Magnolia Grove will focus on the environmental insurance marketplace, offering coverage to SMEs in the US on E&S lines for Contractors Pollution, Site Pollution, Products Pollution, Commercial General Liability, Professional Liability and Follow Form Excess Liability.
Having held senior underwriting positions at DUAL, ACE Group (now Chubb), and OneBeacon Insurance (now Intact Specialty Solutions), Crawford brings extensive environmental expertise and insight. Magnolia Grove policies will be written on “A” AM Best-rated E&S paper by a carrier recently established by Trean Insurance Group, Inc. (Nasdaq: TIG).
Crawford said: “I am tremendously excited to launch Magnolia Grove and offer brokers a market they can truly partner with to provide their clients environmental insurance solutions. With backing and support from Beat, I am confident Magnolia Grove will become the go-to solution for the SME environmental market.”
April Galda Joyce, CEO of Beat Capital Partners Americas, said: “Beat is delighted to support Justin in the formation of Magnolia Grove. He brings an outstanding underwriting reputation and devotion to customer service, and he’s yet another great example of how Beat is attracting market leading underwriters and helping them build their own businesses.”
Magnolia Grove’s offering is available in selected states with plans to expand to the remaining states over the course of this year. Magnolia Grove is Beat Capital Partners’ first US franchise, joining the eight franchises Beat has established across the UK and Bermuda.
About Magnolia Grove Insurance Services
Magnolia Grove Insurance Services was founded by Justin Crawford and Beat Capital Partners in 2022 to bring targeted superior products, unrivalled knowledge and a continuous devotion to customer service to the SME environmental insurance market. With offices in Charlotte, North Carolina, and Cumming, Georgia, Magnolia Grove works closely with select brokers and offers AM Best “A” rated paper through Benchmark Specialty Insurance Company. For more information, see www.magnoliagrove.com.
About Beat Capital Partners
Beat Capital Partners is a long duration venture capital investor exclusively focused on the insurance industry, offering the right individuals and teams start-up funding, infrastructure, risk capital, and highly rated paper, alongside experienced guidance and support. Beat has launched eight businesses since its founding in 2017, which will collectively write gross premiums of an estimated US$650 million in 2022, and operates Lloyd’s Syndicate 4242. Beat is backed by experienced insurance investors including Bain Capital Credit and Elliott Management, as well as its management team, and is committed to being the best possible partner for entrepreneurial insurance talent. For more information, see www.beatcapital.com.
Beat Media Contacts
David Haggie, firstname.lastname@example.org, +44 (0)7768 332 486
Hannah Stewart, Hannah.Stewart@haggie.co.uk, +44 (0)7795 155 654