Keystone Positions for Next Stage of Growth with Leadership Transition
Seasoned Insurance Executive Mike Walsh named President
MECHANICSBURG, Pa., Dec. 1, 2025 /PRNewswire/ -- Keystone, a leading insurance platform, today announced a planned leadership transition designed to continue to drive growth and momentum. As part of this strategy, Mike Walsh, a seasoned insurance industry executive with a proven track record of driving innovation and performance, will be appointed President in the coming months. This initial step will allow Mr. Walsh to work closely with the leadership team and Patrick Kinney to ensure a smooth and effective transition. Patrick Kinney will continue to serve as CEO during this period, providing ongoing leadership and guidance while overseeing the transition process. Once the transition is complete, Mr. Walsh will assume the role of CEO, and Mr. Kinney will move to the Keystone Board of Directors, where he will continue to offer strategic insight and support. This phased approach has been thoughtfully structured to preserve organizational continuity and maintain the strong foundation that positions Keystone for long-term success.
"We're delighted to welcome Mike to the Keystone leadership team and believe he's the right fit to drive the company's next phase of growth," said Jeff Stein, Managing Director and Head of U.S. Financial Services at Warburg Pincus. "Mike's proven track record of growth and innovation, combined with his deep understanding of the insurance industry, make him the ideal leader of the organization. We look forward to partnering with Mike, Patrick and the leadership team as he executes on Keystone's vision for continued growth and success."
Mike Walsh brings a wealth of experience and knowledge to Keystone, having spent his career building and growing successful insurance businesses. As the former President of Commercial Property and Casualty at NFP, Mike has developed a strong track record of driving organic growth, capturing new business, and expanding acquisition opportunities.
"I'm honored to join Keystone and work alongside the talented team to drive growth throughout the organization," said Mike Walsh. "From my roots in this industry, I understand the importance of personalized service, local expertise, and tailored solutions. I'm excited to leverage my experience to help Keystone thrive and succeed in an ever-changing market."
"We're thrilled to welcome Mike to the Keystone leadership team," said Patrick Kinney, CEO of Keystone. "As a previous agency owner himself, Mike understands the unique needs and challenges of both our Platform and Network Partners. His experience and expertise will be invaluable as we continue to grow and innovate in the insurance industry. I'll be working closely with Mike over the next year to ensure a smooth transition and set him up for success as he takes on his new role."
The transition comes at a time of significant growth and momentum for Keystone, with the company continuing to expand its presence in the insurance industry. With Mr. Walsh joining the leadership team and Mr. Kinney's continued guidance, Keystone is poised to build on its success and continue delivering exceptional service and solutions to its agency partners and clients.
"We're excited about the future of Keystone and the opportunities that lie ahead," added Mr. Kinney. "Mike's leadership and expertise will be instrumental in driving our continued growth and success, and I'm looking forward to working with him over the next year to ensure a seamless transition."
About Keystone
Keystone is recognized by Business Insurance as the 27th largest retail broker and the 5th fastest-growing broker in the United States. Leveraging its robust distribution capabilities and strategic partnerships with Platform Partners, Keystone's unique model delivers exceptional growth and profitability. By providing best-in-class services and capital investments, Keystone empowers independent agencies to thrive and unlock their full potential. Founded in 2020, Keystone continues to drive innovation and growth in the insurance industry. For more information, please visit www.keystoneagencypartners.com.
About Warburg Pincus
Warburg Pincus LLC is the pioneer of global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $85 billion in assets under management, and more than 215 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has invested in more than 1,000 companies across its private equity, real estate, and capital solutions strategies.
The firm is headquartered in New York with more than 15 offices globally. For more information, please visit www.warburgpincus.com or follow us on LinkedIn.
About Bain Capital
Founded in 1984, Bain Capital is one of the world's leading private investment firms. We are committed to creating lasting impact for our investors, teams, businesses, and the communities in which we live. As a private partnership, we lead with conviction and a culture of collaboration, advantages that enable us to innovate investment approaches, unlock opportunities, and create exceptional outcomes. Our global platform invests across five focus areas: Private Equity, Growth & Venture, Capital Solutions, Credit & Capital Markets, and Real Assets. In these focus areas, we bring deep sector expertise and wide-ranging capabilities. We have 24 offices on four continents, more than 1,850 employees, and approximately $185 billion in assets under management. To learn more, visit www.baincapital.com. Follow @BainCapital on LinkedIn and X (Twitter).
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