06 October 2026

B.P. Marsh & Partners Plc

(“B.P. Marsh”, “the Company” or “the Group”)

New Investment – Dauntless U/W Limited

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 Dauntless U/W Limited (“Dauntless”), a newly formed London Market underwriting agency specialising in marine hull insurance.

·           B.P. Marsh has acquired a 30% equity interest in Dauntless for a nominal consideration.

·           As part of the transaction, B.P. Marsh has provided a £2.0m loan facility.

·           Dauntless specialises in marine hull underwriting focused on niche, brown water, older and distressed tonnage.

·           The business will operate as an Appointed Representative of DA Strategy Limited and is supported by A-rated Lloyd's carriers.

Dauntless has been co-founded by Des Keane and Charles Scott-Hopkins, who have held senior underwriting positions across leading Lloyd's syndicates, including Tokio Marine Kiln, CNA Hardy and Ascot, before establishing Dauntless.

The Board believes that Dauntless represents an attractive opportunity to support Des and Charles and is consistent with the Group’s strategy of investing in high-quality early-stage insurance intermediary businesses.

Abigail Benson, Investment Director at B.P. Marsh, has been appointed to the board of Dauntless.

Dan Topping, Chief Executive Officer of B.P. Marsh, commented:

"We are pleased to support the launch of Dauntless and back a marine underwriting agency in the Lloyd's and London markets. We have seen good success in this area, both in exited investments as well as within the existing portfolio.

This investment aligns with our strategy of partnering with talented management teams at an early stage, providing the capital and support to build high-quality specialist insurance businesses."

Des Keane and Charles Scott-Hopkins, Co-Founders and Partners of Dauntless, commented:

"Dauntless is the natural next step for us, bringing our combined underwriting expertise under one roof with the right capital backing. We are delighted to have B.P. Marsh as our investment partner and look forward to building a business founded on the quality and consistency we have delivered throughout our careers."

For further information on B.P. Marsh, its strategy and current portfolio, please contact: 

About B.P. Marsh

B.P. Marsh & Partners Plc (AIM: BPM) is a specialist investor in early stage and small to medium-sized financial services intermediary businesses, with a particular focus on the insurance sector. Bridging the gap to traditional private equity funding rounds, B.P. Marsh takes a typical initial equity stake of up to £5m, often complemented by loans, and is able to tailor its investment model to each opportunity. Taking a long-term view of its investments, with an average holding period of around seven years, the Group supplies strategic insight and capital while empowering entrepreneurial management teams to grow their businesses.

The B.P. Marsh portfolio is diversified by geography and class of business, spanning insurance brokers, underwriting agencies and financial advisers in the UK, Europe, North America and other international markets. For further information, including details of the current portfolio and recent exits, please visit: www.bpmarsh.co.uk.

Forward-looking statements

This announcement may include statements, beliefs or opinions that are, or may be deemed to be, "forward-looking statements". These forward-looking statements may be identified by the use of forward-looking terminology, including the terms "believes", "estimates", "plans", "projects", "anticipates", "targets", "aims", "continues", "expects", "intends", "hopes", "may", "will", "would", "could" or "should" or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. No representation or warranty is made that any of these statements or forecasts will come to pass or that any forecast results will be achieved. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements contained in the announcement speak only as of their respective dates, reflect B.P. Marsh's current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to B.P. Marsh's business, results of operations, financial position, liquidity, prospects, growth and strategies.

Except as required by any applicable law or regulation, B.P. Marsh expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained in this announcement or any other forward-looking statements it may make whether as a result of new information, future developments or otherwise