(Alliance News) - BP Marsh & Partners PLC on Wednesday said it has acquired a 30% shareholding in Ai Marine Risk Ltd, a London-based managing general agency.
BP Marsh is a London-based venture capital investor, which backs financial services businesses.
BP Marsh has agreed to provide up to GBP1.6 million of funding through a mixture of equity and a loan facility, which will be partially drawn down upon completion.
"Ai Marine specialises in Marine Hull insurance and will underwrite a global portfolio of business with a strong focus on the UK & Europe, Middle East and Asia-Pacific regions," BP Marsh said.
It added that Ai Marine plans to build "a market-leading, client-centric marine MGA."
Shares in BP Marsh were up 0.2% to 451.66 pence each in London on Wednesday morning.
By Sophie Rose, Alliance News senior reporter
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B.p Marsh (BPM)