B.P. Marsh unveils potential insurance deals

B.P. Marsh unveils potential insurance deals

B.P. Marsh unveils potential insurance deals | Insurance Business Australia

Insurance News

B.P. Marsh unveils potential insurance deals

At least three opportunities being considered

Insurance News

By
Terry Gangcuangco

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



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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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