B.p Marsh Regulatory News (BPM)

5 Mar 2007 12:46

B.P. Marsh & Partners PLC05 March 2007 Date: 5th March 2007 On behalf of: B.P. Marsh & Partners Plc ("B. P. Marsh" or the "Company") B.P. Marsh & Partners Plc Investment in JMD Specialist Insurance Services Group Ltd B. P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to earlystage financial services businesses, announces that it has acquired an equityinterest of 25% in JMD Specialist Insurance Services Group Ltd ("JMD"), for aconsideration of £0.6m. Whilst the Company has made several investments in itsexisting portfolio, this transaction represents the first new investment made byB.P. Marsh since it floated on AIM in February 2006. JMD is a specialist accelerated premium collection service based in London. Itprovides a unique approach to the acceleration of insurance cash flow as well aseffective balance sheet management such as managing outstanding loss reservesthrough the use of its bespoke insurance software. Its services include: - premium collection and control - facility management - reinsurance recoveries - outstanding loss reserves review - commutations - closed year collections - broker performance review - coverholder reviews - legacy wordings B.P. Marsh is funding the investment using its existing cash resources. In linewith the Company's investment approach, a B.P. Marsh director will join theboard of JMD. Commenting on the investment, Brian Marsh OBE, BP Marsh's Chairman, said: "JMD has enjoyed a strong reputation in the market for the quality of itspeople, services and systems. Its proven track record of achieving measurableprofit enhancements for its clients and excellent management team makes JMD avery attractive investment proposition. We are delighted to provide the supportneeded to enable them to exploit certain opportunities available to them. " John Dewen, Chief Executive of JMD, commented: "The Group is now embarking upon the next stage of its strategic development andwe are delighted that BPM, a niche investor in the insurance industry, sharesour vision for the future. Insurance market reforms and the current appetite forchange are presenting a number of opportunities for the Group and BPM'sinvolvement ensures that we will be able to progress them to their fullpotential." - ends - For further information: B.P. Marsh & Partners Plc www.bpmarsh.co.ukBrian Marsh OBE +44 (0)20 7730 2626 Redleaf Communications (PR to BP Marsh)Emma Kane/Tom Newman +44 (0)20 7822 0200 -ends- Notes to Editors: About B.P. Marsh & Partners Plc 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 four 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. 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. Jonathan Newman is the Group Director of Finance and has 9 years' experience inthe financial services industry. Jonathan advises investee companies throughseveral non-executive board appointments and evaluates new investmentopportunities. About JMD Specialist Insurance Services Group Limited JMD Specialist Insurance Services Group Limited has grown to become a majorprovider of leading-edge services to the insurance industry. Its unique approachto measurable cash flow and profit enhancements adds value to Lloyd'ssyndicates, UK and international insurers and reinsurers. With first-hand experience of the London insurance market, an extensive networkof contacts and its bespoke insurance software i2blade, JMD is able to work withclients to achieve their objectives without compromising their essential marketrelationships. For more information visit www.jmd-sis.com This information is provided by RNS The company news service from the London Stock Exchange