B.P. Marsh’s funds reach £74.1m amid continued strong performance

In its latest trading update, B.P. Marsh & Partners has revealed that group funds reached £74.1 million as of 31 January 2025, up from £40.5 million a year earlier, supported by a strong pipeline of potential new and follow-on investments.

B.P. Marsh reportedly completed two disposals during the year, while three new investments were undertaken.

In March 2024, B.P. Marsh completed the sale of its 43.8% shareholding in Paladin Holdings Limited, the parent company of CBC, to Specialist Risk Group Limited. Upon completion, the group received £42.1 million, reflecting a 38.0% increase from its most recent valuation as at 31 July 2023.

The group received a further £1.9 million in September 2024 as a post-completion working capital adjustment to the proceeds, bringing the total received to £44 million.

Then, in October 2024, B.P. Marsh agreed to sell its fully diluted 28.4% shareholding in Lilley Plummer Holdings Limited, the 100% owner of specialist Lloyd’s broker Lilley Plummer Risks Limited, to Clear London Markets Limited.

Upon completion, the group received £21.7 million in cash, representing a 26% uplift on its latest valuation of the investment as at 31 July 2024.

As mentioned, B.P. Marsh completed three new investments during the year, namely SRT & Partners Limited, Volt UW, HoldCo Ltd and CEE Specialty.

The group is said to have acquired a 30% Cumulative Preferred Ordinary shareholding in Devonshire for £300,000 alongside a loan facility of £1.7 million in March 2024.

It reportedly remains B.P. Marsh’s intention to pay a dividend of at least £5 million per annum in each of the financial years ending 31 January 2026, 2027, and 2028.

Commenting on the insurance market’s outlook, B.P. Marsh said, “The group continues to track key trends in the insurance sector in which we operate, with a specific focus on premium rates and mergers and acquisitions (M&A) activity.

“Given that the portfolio predominantly operates in specialist risk areas, rates tend to be less volatile, and we remain confident that our portfolio is suitably prepared to weather a softening market.

“The ongoing consolidation trends in the insurance market show no signs of slowing down as we move into 2025, and this activity remains a catalyst for substantial prospects for the group, both in terms of new investments and activity within our core portfolio.

“Furthermore, both the group and its portfolio companies continue to attract interest from entrepreneurial individuals and teams seeking to remain outside of this consolidation process, creating further avenues for new investments, strategic partnerships, and expansion in the year ahead.”

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