B.p Marsh Regulatory News (BPM)

27 Feb 2006 09:10

B.P. Marsh & Partners PLC27 February 2006 Date: 27 February 2006 On behalf of: B.P. Marsh & Partners Plc ("BP Marsh", "The Marsh Group" or "the Company") For immediate release B.P. Marsh & Partners Plc First Transaction Following AIM Flotation - Investee Company Raises £5.1m B.P. Marsh & Partners Plc, a niche venture capital provider to early stagefinancial services businesses (AIM: BPM), today announces its first transactionfollowing the Company's flotation on AIM on 2 February 2006. Hyperion Insurance Group Limited ("Hyperion"), one of BP Marsh's investeecompanies, has successfully completed an equity placing which raised £5.1million of new capital to fund its ongoing growth plan. In the AdmissionDocument issued by BP Marsh on 2 February 2006, the fair market value of BPMarsh's holding in Hyperion, as at 31 July 2005, is shown as £8,080,440. BP Marsh, which exercised its pre-emption rights, participated in the placing byway of the capitalisation of part of a loan (£1,429,661) which was due to berepaid by Hyperion and maintains its shareholding in Hyperion at 27.9%. MurofoInvestments SLU, a Spanish Investment Company, becomes a new shareholder inHyperion taking a 14% stake. In addition, Luis Munoz-Rojas, director of Murofo,joins the Hyperion Board. Hyperion is one of the UK's fastest growing independent insurance groups andyesterday announced the doubling of its profits by 94% to £4.03 million.Hyperion intends to continue its record of organic growth through establishingstart up operations in new territories as well as actively seeking suitablebusiness operations to add to its group. Hyperion believes this additionalequity will provide sufficient finance for the group's immediate plans. The Marsh Group first invested in Hyperion Insurance Group in 1994. TheHyperion Insurance Group owns, amongst other things, Howden, a registeredLloyd's insurance broker specialising in business critical risks includingdirectors' and officers' ("D&O") and professional indemnity ("PI") insurance.In 1998, Hyperion set up Dual International, an insurance managing generalagency specialising in developing D&O and PI business in Europe. In 2000,Hyperion established CFC Underwriting, a niche underwriting agency specialisingin cyber-liability and technology risks. Commenting on the investment, Chairman Brian Marsh OBE, said: "Over the last three years, Hyperion's revenues have trebled and profits havegrown by a compound annual rate of 42%, making Hyperion one of the fastestgrowing independent insurance groups in the UK. BP Marsh has been a shareholderin Hyperion for more than a decade and we are delighted to be able to continueto support the Group's development." David Howden, Chief Executive of Hyperion Group, comments: "Insurance is playing an increasingly critical role in helping businessesprotect their balance sheets as they face a greater range of risks. We seetremendous opportunities for companies such as ours with the expertise andagility to move quickly into new products and territories in order to respond tothese ever changing needs." For further information: B.P. Marsh & Partners Plc www.bpmarsh.co.uk Brian Marsh, O.B.E. +44 (0)20 7730 2626 Redleaf Communications (PR to BP Marsh)Emma Kane +44 (0)20 7955 1410Rob Bain +44 (0)20 7955 1410 Spotlight (PR to Hyperion)Sarah-Jayne Douglas +44 (0)1252 352399Lesley Russell Notes to Editors: Additional information about BP Marsh and its management: BP Marsh's current portfolio contains nine companies. More detailed descriptionsof the portfolio can be found at www.bpmarsh.co.uk. Over the past 16 years, the Company has assembled a management team withconsiderable experience both in the financial services sector and in managingprivate equity investments. Many of the directors have worked with each other inprevious roles, and all have worked with each other for at least three and ahalf years. Prior to Brian Marsh's involvement in the Company, he spent many years ininsurance broking and underwriting in Lloyd's as well as the London and overseasmarket. He has over 30 years' experience in building, buying and sellingfinancial services businesses, particularly in the insurance sector. Managing Director, Natasha Dunbar, has over 10 years' experience in thefinancial services industry. Having joined the Company in 1994 she was mademanaging director in March 2002. Natasha is responsible for the day to dayrunning of all operational aspects of the business and works closely with BrianMarsh in defining the strategic development of the Company. Investment Director Stephen Crowther joined the Company in 1998. He has over 27years' experience in the London insurance market, in both broking andunderwriting. He researches potential investments, advises investee businessesand monitors their progress. Francis de Zulueta is the Company's Development Director. With a wide-rangingknowledge of the financial services market, he seeks out, researches andevaluates potential new investments for BP Marsh. Following a 23-year brokingcareer with Willis Faber and Aon, among others, he took an active interest inthe mergers, acquisitions and venture capital business of Marsh McLennan. About Hyperion: Established in 1994 and headquartered in the City of London, the HyperionInsurance Group was ranked as one of the UK's fastest growing independentcompanies in the 2005 Sunday Times Profit Track 100 and 15th in the PostMagazine 2005 Top 20 City Brokers report. The Group comprises 21 operations in 11countries employing over 300 people, andoperating through four distinct platforms - wholesale and retail broking,underwriting and reinsurance. This information is provided by RNS The company news service from the London Stock Exchange