B.P. Marsh (AIM: BPM) is specialist venture capital investor in early stage financial services businesses including insurance intermediaries, financial advisors, wealth and fund managers and specialist advisory and consultancy firms from around the world. Since formation over 30 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 approaching ten years.
The Group’s aim is to be the capital provider of choice for the financial services intermediary sector and to deliver to its investors long-term capital growth alongside a sustainable distribution policy.
The Group invests amounts of up to £5m in the first round. Investment structure is flexible and investment stage ranges from start up to more developed. The Group initially only takes minority equity positions and does not seek to impose exit pressures, preferring to be able to take a long-term view where required and work alongside management to a mutually beneficial exit route that maximises value.
B.P. Marsh has invested in over 50 businesses since it was founded in 1990 and its management team has a wealth of experience and a well-developed network within the financial services sector.
Brian Marsh (NE Chairman)
Started his career in insurance broking and underwriting in Lloyd’s 55 years ago. Brian was, from 1979-1990 chair of the Nelson Hurst & Marsh group, before founding the Group.
Alice Foulk (MD)
Joined B.P. Marsh in September 2011. Appointed a Director of B.P. Marsh in Feb 2015 and MD in Jan 2016.
Daniel Topping (CIO)
Daniel has overall responsibility for the portfolio and investment strategy for B.P. Marsh. Joined 2007, appointed a Director in 2011 appointed CIO in 2016.
Francesca Chappell (CFO)
Joined BP Marsh in 2013, appointed a Director in 2018.
NEDs: Pankaj Lakhani, Nicholas Carter
Cancellation of Shares and Buy-Back Programme Update Cancellation of Shares B.P. Marsh today announces that it has agreed to cancel …
New Investment – SRT & Partners Limited B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity investor in early-stage …
Follow on Investment – in Pantheon Specialty Group Limited (“Pantheon”) B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity …
Sale of Lilley Plummer Holdings Limited (“Lilley Plummer Risks” or “LPR”) B.P. Marsh & Partners Plc (AIM: BPM), the specialist …
New Investment – Volt UW HoldCo Ltd (“Volt”) B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity investor in …
New Investment – CEE Specialty s.r.o. B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity investor in early stage …
| P&L | 31 Jan 2024 £~000 | 31 Jan 2023 £~000 |
|---|---|---|
| Gains on investments | 43,698 | 27,460 |
| Operating Income | 51,166 | 32,379 |
| Operating expenses | (7,881) | (4,889) |
| Income for the year | 42,529 | 23,843 |
| Total Dividend per share | 5.56p | 2.78p |
| Balance Sheet | 31 Jan 2024 £~000 | 31 Jan 2023 £~000 |
|---|---|---|
| Cash | 40,435 | 11,564 |
| Total assets | 238,297 | 197,769 |
| Total liabilities | (9,126) | (8,232) |
| Total net assets | 229,171 | 189,537 |
Investors Chronicle: B.P. Marsh Share price ralley is well underpinned (Feb 2024)
“The insurance-sector-focused investment company’s positive pre-close trading update is well worth noting ahead of the annual results: Although we will have to wait until the annual results on 11 June 2024 for the portfolio revaluation, it’s difficult to envisage a scenario whereby BP Marsh’s undiluted net asset value (NAV) per share will not surge through the 600p barrier at the 31 January 2024 financial year-end…”
Insurance companies have highly attractive economics. Other people give them money to hold onto until a claim needs to be paid, and the insurer can invest this money for its own benefit in the meantime. This is why Warren Buffett is so attracted to insurance and chose it as the backbone of Berkshire Hathaway’s empire.
Insurance is a recession-resistant business as well. We’ve seen this play out in 2022 as the S&P Insurance index outperformed the broad market S&P 500 by 13 percentage points through the first half of the year. During tough times, people still need to maintain auto and homeowners coverage, for example. In short, insurance is a business that can produce excellent long-term returns without too much volatility.
