B.P. Marsh & Partners Plc, which is part owner of more than 10 brokers and underwriting agencies, is currently considering at least three insurance deals.
In a London Stock Exchange filing, B.P. Marsh chief investment officer Daniel Topping said: “Current opportunities under consideration include, but are not limited to, the following: a start-up MGA/underwriting agency looking to specialise in underwriting marine lines; an established broker that specialises in insurance for high net worth clients and fine art & specie lines; and a specialist Lloyd’s start-up broker.
“In view of the group’s favourable cash position, we remain prepared to take advantage of opportunities emanating from the financial services industry generally and the insurance market specifically.”
With the exception of independent financial adviser LEBC, B.P. Marsh’s investments are in the insurance intermediary space. According to the specialist investor, it has equity interests in the following companies:
|
Company |
Jurisdiction |
Equity % at January 31, 2023 |
|---|---|---|
|
Ag Guard PTY Limited |
Australia |
41% |
|
Asia Reinsurance Brokers (Pte) Limited |
Singapore |
25% |
|
ATC Insurance Solutions PTY Limited |
Australia |
25.6% |
|
CBC UK Limited |
UK |
47.1% |
|
Denison and Partners Limited |
UK |
40% |
|
The Fiducia MGA Company Limited |
UK |
35.2% |
|
LEBC Holdings Limited |
UK |
59.3% |
|
Lilley Plummer Risks Limited |
UK |
30% |
|
Sage Program Underwriters, Inc. |
US |
30% |
|
Sterling Insurance PTY Limited |
Australia |
19.7% |
|
Stewart Specialty Risk Underwriting Ltd |
Canada |
30% |
|
XPT Group LLC |
US |
28.5% |
Insurance Business excluded Criterion Underwriting (Pte) Limited, which is not trading at present, and Kentro Capital Limited, which recently got sold to Brown & Brown, Inc. Meanwhile, in April, B.P. Marsh acquired a 35% cumulative preferred ordinary shareholding in London-based agency Verve Risk Services Limited.
In the year ended January 31, 2023, B.P. Marsh’s profit on ordinary activities after taxation attributable to equity holders grew 36.4% to £23.8 million.
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