Sands Point's Kearns says Launch deal anchors multiproduct platform

Sands Point’s Kearns says Launch deal anchors multiproduct platform with PVT, aviation and D&O next

The acquisition of Launch Environmental advances Sands Point Risk’s multidiscipline, multiproduct MGA platform build, with political violence and terrorism, aviation and directors and officers programs in the pipeline behind it, CEO Dennis Kearns said.

The deal lifts the Avesi Partners-backed MGA past $250 million in gross written premium and gives Sands Point traditional casualty business at meaningful scale alongside transactional liability, medical stop-loss and the New York construction program already in operation.

Kearns spoke alongside Launch Environmental CEO John O’Brien in a joint interview.

THE PLATFORM VISION FROM START

The multiline platform identity Kearns described was set from Sands Point’s launch in early 2024, with transactional liability serving as the founding flagship and the firm explicitly designing for migration to a diversified P&C platform.

“We had a strategy from the start to be a multidiscipline, multiproduct offering for the MGA market,” Kearns said.

“When we came to the market, of course, transactional was our flagship but we said we’re going to have a diversified platform that gives us traditional P&C.”

Construction was the first step off the TL flagship, with Sands Point launching a New York program in January 2025 backed by RLI capacity.

The platform then added medical stop-loss with the BRM Specialty Markets acquisition in July 2025.

Launch Environmental now anchors the traditional casualty piece.

Kearns said the firm specifically targeted a casualty business as the next leg and was drawn to O’Brien’s underwriting reputation built across AIG, Ironshore and Ascot.

PVT, AVIATION AND D&O ON DECK

Three further programs are positioned to launch in the coming months, Kearns said, covering political violence and terrorism, aviation and directors and officers.

The new lines fit Sands Point’s positioning as a platform that can incubate programs, attract leaders and teams, and house ideas backed by a defined three-year growth plan.

“Sands Point is a destination for that type of candidate,” Kearns said. “If you have an idea that you want to actually execute a business plan, you have the ability to demonstrate profitable underwriting growth over the next three to five years.”

Capacity backing and team leadership for the three new programs were not detailed in the interview.

THREE LEVERS, PLUS ADJACENCIES

Kearns described Sands Point’s growth as running on three levers, with adjacencies layered on top.

The first is private equity support and partnership from Avesi.

The second is the active acquisition pipeline, with a veteran team scoping opportunities at the previously stated cadence of one to two deals per year.

The third is attracting talent, both individual leaders and teams ready to build a business plan inside an existing chassis.

Adjacent products to existing lines round out the growth model, with builders’ risk in construction and professional liability across both construction and environmental flagged as natural extensions.

“We want to look at growing adjacencies related to our existing businesses,” Kearns said.

WALK-AWAY DISCIPLINE

Every opportunity Sands Point pursues must carry a manageable loss ratio and a credible three-year growth plan, Kearns said.

“We’re going to grow, and we’re going to grow responsibly,” Kearns said. “We want to make sure we’re stewards of our partners’ capital. We want to make sure that we never lose sight of the fact that we have to have profitable operations.”

Saturated markets without a clear growth case do not get pursued.

Property was named directly as a line Sands Point will not enter in the near term.

“If we can’t see that there is a manageable and profitable loss ratio, we’re going to pass on that opportunity,” Kearns said.

A DESTINATION FOR TEAMS

The platform is now visible enough that talent is initiating conversations with Sands Point rather than the reverse, Kearns said.

“When we were first in Tampa (at the Target Markets Mid-Year Meeting), a little over two years ago, we were a brand new group,” Kearns said.

“Certainly we had longevity in the insurance industry, but when you’re starting a new company, you are the new kid on the block.

“Now we’re starting to see talent see us in the market and want to connect with us.”

Kearns said every leader and team brought into Sands Point has to share the same cultural and philosophical viewpoint on how to build the business.

The cultural match with Launch Environmental was central to the deal, both parties said.

O’Brien described a process involving around 15 potential buyers before Sands Point emerged as a fit.

“I feel like I’ve met a bunch of people who are going to be my friends for a long time,” O’Brien said.

“Not insurance friends. That’s something I don’t think I felt with anybody else.”

“We can add teams, we can add individual leaders, but everybody will share that same cultural and philosophical viewpoint as to how we build the business,” Kearns said.