Neon expands offshore with Sapphire purchase

Lloyd's carrier Neon has agreed to buy Guernsey-based MGA
Sapphire Underwriters to grow its offshore business.
The insurer did not disclose a value for the deal with Sapphire
parent Heritage, also of Guernsey.
Sapphire is a Lloyd's coverholder providing directors'
and officers', professional indemnity and cyber coverage to UK
and local offshore brokers and clients.
Sapphire, led by CEO Nigel Brand, was founded in 2013 with
support from Neon to support offshore clients that needed London
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