We use cookies to improve this site and enable full functionality. You can change your cookie settings at any time using your browser. Our cookie policy.

B.P. Marsh & Partners releases six-month financial results

B.P. Marsh & Partners releases six-month financial results | Insurance Business

B.P. Marsh & Partners releases six-month financial results

B.P. Marsh & Partners Plc has released its interim results for the six months ended July 31, and chairman Brian Marsh is optimistic about what’s left of the financial year. 

The specialist investor in financial services intermediary businesses reported a profit after tax of £5.6 million; higher net asset value (NAV) of £130 million; and a 4% rise in the equity value of the portfolio in the period. In addition, B.P. Marsh has a £3 million loan facility available to use for investment.

It was noted that Nexus Underwriting Management Limited secured an additional £16 million in new loan facilities and also completed the acquisitions of a specialist trade credit broker and a London-based financial and professional lines managing general agency.

Read more: Nexus continues acquisition spree, announces fresh capital

Outside Britain, other developments in the period include new investment in Ag Guard PTY Limited in Australia as well as the completion of New York firm XPT Group LLC’s fourth swoop.  

“B.P. Marsh has continued its long track record of delivering NAV growth from its diverse portfolio of investments, despite specific challenges,” commented Marsh.

“As a leading specialist investor in global financial services intermediaries and with 50% of our investment portfolio revenues emanating from outside of the UK, the outlook for the rest of the financial year is positive.”