B.P. Marsh & Partners PLC
Date: 10th December 2013
On behalf of: B. P. Marsh & Partners Plc ("B. P. Marsh", "the Company" or "the Group")
Immediate release
B. P. Marsh & Partners Plc
Investee Company Update - US Risk (UK) Limited
LIME UNDERWRITING
B. P. Marsh & Partners Plc (AIM: BPM), the niche venture capital provider to early stage financial services businesses, is pleased to announce that US Risk (UK) Limited has today formally launched its new Lloyd's MGA, Lime Underwriting. With capacity from certain syndicates at Lloyd's and London market insurers it will initially concentrate on the UK and international financial lines sector, including Professional Indemnity, Directors and Officers, Management Liability, Pension Trustees Liability and Commercial Crime, in both the regional and London markets.
Jonathan Morgan and Lindsay Noble have joined to start the enterprise and have responsibilities for developing broker relationships and underwriting respectively. Jonathan has over 25 years' experience in the specialty lines market, having worked in the US, Switzerland and both London and regional markets. Lindsay has over 20 years' experience in the financial lines market and has established and managed regional financial lines teams dealing with both regional and London brokers. She was a founder member of the PRI Group Plc and has previously worked for Novae, RSA, Markel and Brit.
Mike Lobb, Chief Executive Officer, US Risk (UK) Limited said:
"Launching Lime Underwriting fits very well with our strategic intentions to develop and grow our MGA platform globally within the group. US Risk Inc are the eighth largest MGA in the US and B. P. Marsh has a vast amount of knowledge in investing and building global MGA platforms so it seemed logical to use this experience."
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
Fred Walsh / Charles Leigh-Pemberton / Atholl Tweedie +44 (0)20 7886 2500
Redleaf Polhill:
Lauren Franze / Sophie Roe: +44 (0)20 7382 4740
Notes to Editors:
About B.P. Marsh & Partners Plc
B. P. Marsh's current portfolio contains eleven companies. More detailed descriptions of the portfolio can be found at www.bpmarsh.co.uk.
Since formation over 20 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 four 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.
Jonathan Newman is a Chartered Management Accountant and is the Group Director of Finance and has over 15 years' experience in the financial services industry. Jonathan currently has a number of non-executive appointments and evaluates new investment opportunities.
Daniel Topping is a Member of the Chartered Institute of Securities and Investment (MCSI) and an Associate Member of the Institute of Chartered Secretaries and Administrators (ACIS) having graduated from the University of Durham in 2005. Dan joined B.P. Marsh in February 2007 having started his career at an accountancy firm. In 2011 he was appointed as a director of B.P. Marsh and currently has a number of non-executive appointments over five investee companies and evaluates new investment opportunities.
Camilla Kenyon was appointed as Head of Investor Relations at B. P. Marsh in February 2009, having four years' prior experience with the Company. Camilla has non-executive appointments over two investee companies, is Chair of the New Business Committee and is a Member of the Investor Relations Society.
Natasha Dunbar has over 18 years' experience in the financial services industry. Having joined the Company in 1994 she was made managing director in March 2002, subsequently becoming a non-executive director of the Company in 2008, a position she held for five years. Natasha was reappointed as a Director in February 2013 and holds a non-executive appointment at one of the Group's investee companies.
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