Investment in Lilley Plummer Risks Limited

Date: 21 October 2019

On behalf of: B.P. Marsh & Partners PLC

Immediate release

B.P. Marsh & Partners Plc

Investment in Lilley Plummer Risks Limited

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

The Board of B.P. Marsh & Partners Plc, the specialist investor in early stage financial services intermediaries (AIM: BPM), is pleased to announce its investment in Lilley Plummer Risks Limited ("Lilley Plummer"), a newly formed specialist Marine Lloyd's broker, based in London. This transaction has resulted in the Company taking a 30% equity stake in Lilley Plummer for a total cash consideration of £1m, in a mixture of Redeemable and Non-Redeemable Preference shares.

The experienced management team at Lilley Plummer is formed of Stuart Lilley and Dan Plummer. Prior to founding Lilley Plummer, Dan Plummer gained valuable experience across the marine market having held senior positions at CR Marine & Aviation SRL, Windsor Partners LLP and Howden Insurance Brokers Ltd ("Howden"). Stuart Lilley, prior to Lilley Plummer, held roles at International Risk Solutions, FP Marine and latterly Howden. The two individuals have over two decades of experience in the London and International Marine Market.

Prior to founding Lilley Plummer, Stuart and Dan established the London Market Marine operation for a large international (Re)Insurance broking business headquartered in Europe.

The Investment made by B.P. Marsh will be used to finance the growth of the business within its specialist sector via the hiring of other specialist brokers and broking teams.

Stuart Lilley, CEO and Dan Plummer, Managing Director of Lilley Plummer released a joint statement: "We're delighted to partner with B.P. Marsh for this exciting new chapter. We believe that an independent broker in a sector which is seemingly consolidating will provide the much needed bespoke service that clients have come to expect and will create huge opportunities in the future. The experience of B.P. Marsh will be a huge asset for us and we look forward to working together with Dan Topping, Abigail Barber and the team."

Daniel Topping, Chief Investment Officer of the Group commented: "I am pleased to complete our investment in Lilley Plummer to which we can bring our experience and market knowledge. This is very much in our heartland of investing in an experienced, skilled and motivated Management Team. We are looking forward to working with Dan and Stuart to see them realise, and hopefully exceed, our joint goals."

As part of this investment Daniel Topping and Abigail Barber (an Investment Director within B.P. Marsh) will be joining the Board of Lilley Plummer.

For further information:

Notes to Editors:

About B.P. Marsh & Partners Plc

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

Since formation over 25 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.

Alice Foulk joined B.P. Marsh in September 2011 having started her career at a leading Life Assurance company. In 2014 she took over as Executive Assistant to the Chairman, running the Chairman's Office and established herself as a central part of the management team.

In February 2015 she was appointed as a Director of B.P. Marsh and a member of the Investment Committee. In January 2016 Alice was appointed Managing Director of B.P. Marsh.

In her position as Managing Director, Alice is responsible for the overall performance of the Company and monitoring the Company's overall progress towards achieving the objectives and goals of the Company, as set by the Board.

Dan Topping is the Chief Investment Officer of B.P. Marsh, with over a decade of experience in the financial services sector. Dan graduated from the University of Durham in 2005 and is a member of the Securities and Investment Institute and the Institute of Chartered Secretaries and Administrators. Having spent two years at an independent London accountancy practice, he joined the company in 2007. He was appointed as a Director in 2011 and promoted to his current role in 2015.

Dan is a standing member of the B.P. Marsh Investment and Valuation Committees and currently serves as a Board Director across the portfolio.

Jonathan Newman is a Chartered Management Accountant and is the Group Director of Finance and has over 20 years' experience in the financial services industry. Jon graduated from the University of Sheffield with an honours degree in Business Studies and joined the Group in November 1999, following two years at Euler Trade Indemnity and two years at a Chartered Accountants. Jon is a Member of the Chartered Global Management Accountants, the Chartered Management Accountants and the Chartered Institute of Securities and Investment.

Jon was appointed a Director of B.P. Marsh & Company Limited in September 2001, and Group Finance Director in December 2003 and was instrumental in the admission of the Group to AIM in February 2006. Jon is a member of the B.P. Marsh Investment and Valuation Committees and currently serves as a Nominee Director on the Boards of three Investee Companies, and provides senior financial support and advice to all companies within the Group's portfolio as well as evaluating new investment opportunities.

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