B.p Marsh Regulatory News (BPM)

Date: 30 October 2018

On behalf of: B.P. Marsh & Partners Plc ("B.P. Marsh" or the "Company")

B.P. Marsh & Partners Plc

Investee Company update

B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity investor in early stage financial services businesses, is pleased to announce that it has acquired a further 1.9% in Nexus Underwriting Management Limited ("Nexus") for a cash consideration of £2.5m. The value of this transaction is in line with B.P. Marsh's valuation of Nexus as at 31 July 2018.

The shares have been purchased from Hugh Morland, a Non-Executive Director of Nexus, and following the purchase the Company has an aggregate shareholding of 18.5%.

Nexus continues its growth path and has recently announced the acquisitions of Huntington Underwriting Limited, an Asian specialty reinsurance underwriting agency on 6 September 2018 and Altitude Risk Partners LLP, an aviation underwriting agency headquartered in London on 7 September 2018.

Following these transactions, Nexus estimates that for the year ending 31 December 2018, the business will underwrite premium income of $350m across 15 specialised classes of business and deliver income of approximately £41m and EBITDA of approximately £15m.

B.P. Marsh noted in its Trading Update in February 2018 that Nexus was considering options available for a potential liquidity event; this has been duly explored, with the Board of Nexus reaffirming its existing growth strategy in line with its continuing shareholder base.

The outcome of this strategic review has the full support of B.P. Marsh, which is emphasised by this additional share purchase.

Daniel Topping, B.P. Marsh's Chief Investment Officer and the Company's nominee director on the Board of Nexus commented; "We are pleased to increase our shareholding in Nexus, as it continues on its exciting growth trajectory. I see this as a vote of confidence in Nexus' existing strategy."

For further information:

B.P. Marsh & Partners Plc www.bpmarsh.co.uk

Brian Marsh OBE / Camilla Kenyon +44 (0)20 7233 3112

Nominated Adviser & Broker

Panmure Gordon

Atholl Tweedie / Charles Leigh-Pemberton / Sandra Bjorck +44 (0)20 7886 2500

Notes to Editors:

About B.P. Marsh & Partners Plc

B.P. Marsh's current portfolio contains eighteen companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk.

Since formation over 25 years ago, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for at least five years.

Prior to Brian Marsh's involvement in the Company, he spent many years in insurance broking and underwriting in Lloyd's as well as the London and overseas market. He has over 30 years' experience in building, buying and selling financial services businesses, particularly in the insurance sector.

Alice Foulk joined B.P. Marsh in September 2011 having started her career at a leading Life Assurance company. In 2014 she took over as Executive Assistant to the Chairman, running the Chairman's Office and established herself as a central part of the management team.

In February 2015 she was appointed as a Director of B.P. Marsh and a member of the Investment Committee. In January 2016 Alice was appointed Managing Director of B.P. Marsh.

In her position as Managing Director, Alice is responsible for the overall performance of the Company and monitoring the Company's overall progress towards achieving the objectives and goals of the Company, as set by the Board.

Dan Topping is the Chief Investment Officer of B.P. Marsh, having been appointed as a Director in 2011. He joined the Company in February 2007, following two years at an independent London accountancy practice. Dan is the Senior Executive with overall responsibility for the portfolio and investment strategy of B.P. Marsh.

Dan graduated from the University of Durham in 2005 and is a member of the Securities and Investment Institute and the Institute of Chartered Secretaries and Administrators.

Dan is a standing member of the B.P. Marsh Investment and Valuation Committees and currently serves as a Board Director across the portfolio.

Camilla Kenyon (Millie) was appointed to the main Board in 2011, following her appointment as Head of Investor Relations in 2009. She has dual responsibilities within the Group, running both Investor Relations and the New Business Department and is Chair of the New Business Committee evaluating new investment opportunities.

Millie is nominee director in one investee company and is a member of the Investment Committee. She has over 20 years of experience in the financial services industry, including numerous Board appointments and is a Member of the Investor Relations Society.

Jonathan Newman is a Chartered Management Accountant and is the Group Director of Finance and has over 20 years' experience in the financial services industry. Jon graduated from the University of Sheffield with an honours degree in Business Studies and joined the Group in November 1999, following two years at Euler Trade Indemnity and two years at a Chartered Accountants. Jon is a Member of the Chartered Global Management Accountants, the Chartered Management Accountants and the Chartered Institute of Securities and Investment.

Jon was appointed a Director of B.P. Marsh & Company Limited in September 2001, and Group Finance Director in December 2003 and was instrumental in the admission of the Group to AIM in February 2006. Jon is a member of the B.P. Marsh Investment and Valuation Committees and currently serves as a Board Director for Walsingham Motor Insurance Limited, and provides senior financial support and advice to all companies within the Group's portfolio as well as evaluating new investment opportunities.

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