LONDON (Alliance News) - BP Marsh & Partners PLC on Tuesday said its financial year ended January 31 saw a "healthy inflow of new opportunities" in the last month.
A total of 71 new investment opportunities were reviewed during the year, in comparison with 59 in the previous year.
The niche venture capital provider said it is working on a number of those opportunities, in particular those which "fit" with its model.
"The group expects 2016 to be a further year of M&A activity in the insurance market, as organic growth remains difficult to achieve in a soft market," BP Marsh & Partners said.
"Technology continues to be an important consideration for the industry, with new innovations attempting to disrupt the status quo," the company added.
The net cash available for investment after provision for commitments to the existing portfolio currently stands at GBP3.6 million. Its cash position will be boosted in July, when the group expects to realise its remaining 1.6% stake in Hyperion Insurance Group Ltd for GBP7.3 million.
BP Marsh & Partners expects to report the results for the year to January 31 on June 7, and reiterated that it will pay a 3.42 pence dividend for the year, up from 2.75p the prior year.
Shares in BP Marsh & Partners were down 0.3% at 151.10 pence on Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2016 Alliance News Limited. All Rights Reserved.
B.p Marsh (BPM)