B.p Marsh Regulatory News (BPM)

Date: 24 March 2022

B.P. Marsh & Partners Plc

("B.P. Marsh", "the Company" or "the Group")

New Investment - Denison and Partners Limited

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 40% Cumulative Preferred Ordinary shareholding in Denison and Partners Limited ("Denison and Partners"). B.P. Marsh has also provided a Loan Facility to Denison and Partners. This facility is available from completion and will be drawn down in tranches, in line with Denison and Partners' business plan. In aggregate, the Company will be providing funding of £802,000.

Denison and Partners is a start-up London-based Lloyd's Insurance Broker, established by Alasdair Ritchie, with a focus on delivering (re)insurance delegated authority solutions and services to Managing General Agencies, Coverholders and (re)insurers. Denison and Partners will look to leverage its historic strong foundation and relationships in the Financial and Professional lines sector, primarily across the UK, US and Canada. At the same time, Denison and Partners shall seek to capitalise on opportunistic lines of business across other sectors, as may be presented by favourable market conditions, not least by seeking new hires and teams specialising in those expansive lines.

Denison and Partners seeks to build long-term partnerships with its clients, developing tailored risk solutions in order to meet complex client needs in today's trading and business environment.

Alasdair has over 40 years of experience in the (re)insurance market. Prior to establishing Denison and Partners, Alasdair had held a number of senior roles at Willis Group, now known as Willis Towers Watson (WTW), Marsh McLennan and most recently BMS Group. At BMS Group Alasdair established, and was Managing Director of, BMS Professional and Financial Risks Limited.

Dan Topping, Chief Investment Officer of the Company, commenting on this investment, stated:-

"We are pleased to be investing in Denison and Partners, and we look forward to working with Alasdair and his team. He has a fine reputation for providing boutique risk management and transfer solutions to a wide array of clients.

"Following a number of realisations in our previous financial year to 31 January 2022, the Group has continued to focus on investing in niche businesses backed by experienced and capable management teams. An investment in a start up specialist independent Lloyd's Insurance Broker corresponds with this investment approach."

Alasdair Ritchie, Denison and Partners' Founder and CEO, commented:-

"We are delighted to have B.P. Marsh as a partner to support us in achieving our long term ambitions and goals, as set out in our business plan.

"B.P. Marsh offers Denison and Partners more than a financial investment, and the team brings a significant amount of insurance experience, expertise, and relationships. This will be key to Denison and Partners as we grow over the next number of years."

Notes to Editors: 

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

Since formation over 30 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 approaching ten years. 

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