27 November 2025

B.P. Marsh & Partners Plc

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

New Investment - Sodalis Capital Limited ("Sodalis")

B.P. Marsh & Partners Plc (AIM: BPM), the specialist investor in early-stage financial services businesses, is pleased to announce that it has made an investment in Sodalis Capital Limited ("Sodalis"), a newly formed insurance intermediary group focusing on UK and international underwriting, wholesale broking and related services.

B.P. Marsh has invested £5,337,333 for Cumulative Preferred Shares representing approximately 26.67% of the equity in Sodalis.

Sodalis has been established to pursue a buy-and-build strategy within the international insurance intermediary sector, targeting specialist underwriting and wholesale broking platforms across the UK, Europe and the Middle and Far East. The investment proceeds will support initial acquisitions and provide working and regulatory capital for Sodalis and its future trading subsidiaries.

The investment has been made alongside Alliant Insurance Services, Inc. ("Alliant"), who will also be acquiring an approximate 26.67% shareholding in Sodalis on the same terms as the Group. Alliant is the fifth largest insurance intermediary group globally, generating over $5bn of insurance brokerage annually. Alliant's participation brings significant distribution reach and sector expertise, further reinforcing the strategic foundations of Sodalis. Its involvement is expected to support the long-term development of a scalable international insurance intermediary platform.

Sodalis is founded and led by Colin Thompson, a highly regarded insurance executive with over 30 years' experience in building and managing insurance intermediary businesses globally, supported by B.P. Marsh and Alliant. Colin has also invested alongside B.P. Marsh and Alliant and will acquire an approximate 26.67% shareholding in Sodalis also on the same terms.

Dan Topping, Chief Investment Officer of B.P. Marsh, who will be appointed to the Board of Sodalis, commented:-

"We are pleased to announce our investment in Sodalis, alongside Colin Thompson and Alliant. This partnership brings together an experienced management team and a leading international insurance intermediary, creating a strong foundation for growth in the specialist intermediary market.

"We believe this investment offers an attractive risk-return profile and further diversifies our portfolio of insurance intermediary businesses."

Colin Thompson, Founder and CEO of Sodalis, added:-

"We are delighted to partner with B.P. Marsh and Alliant as we launch Sodalis. B.P. Marsh's longstanding expertise and deep sector knowledge make them the ideal partner as we execute our strategy to build a leading independent international insurance group, alongside Alliant who provide not only capital but operational expertise in building blue chip insurance distribution businesses."

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