B.P. Marsh & Partners PLC
Date: 1 July 2014
On behalf of: B.P. Marsh & Partners Plc ("B.P. Marsh", the "Company" or the "Group")
B.P. Marsh & Partners Plc
Investee Company Update - Besso Insurance Group Limited
BESSO OPENS OFFICE IN BRAZIL
B.P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to early stage financial services businesses, announces that Besso Insurance Group Limited ("Besso"), the independent top 20 Lloyd's broker in which B.P. Marsh has a 37.94% stake, has announced that it has received the appropriate licenses to begin trading in its newly opened office in Rio de Janeiro, Brazil.
Besso will be providing a broad range of products including D&O, marine and specialist reinsurance products to its clients in Brazil, increasing the international reach that its clients benefit from and building on the company's ambitions to grow globally.
Besso has recruited Frederico Casal-Ribeiro to head up the team based there. Frederico joins Besso from insurance broker Dynamix Seguros, of which he was both the founder and major partner, and has held positions previously at MII Capital, AIG and Lagos Sports.
Colin Bird, CEO and Chairman of Besso said: "Brazil is currently going through a period of immense growth and development, and at this exciting time a multitude of opportunities continue to surface. We felt this was the perfect time to capitalise on such opportunities, especially when having a local presence will ensure that we provide our clients in South America with a much better service. We consider Rio de Janeiro to be the hub of reinsurance activity in Brazil, and we are looking forward to being part of it."
Brian Marsh, Chairman of B.P. Marsh said: "We believe this to be a significant development for Besso and an important step forward in its international growth ambitions".
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
Notes to Editors:
About B.P. Marsh & Partners Plc
B.P. Marsh's current portfolio contains ten 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 five 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 17 years' experience in the financial services industry. Jonathan advises investee companies and has a number of non-executive appointments over three investee companies and evaluates new investment opportunities.
Daniel Topping is a Member of the Chartered Institute of Securities and Investment (MCSI) and an Associate 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 a number of 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 our investee companies.
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