Investee Company - Update Denison and Partners

RNS Number : 0986F

B.P. Marsh & Partners PLC

02 November 2022

 

2^nd November 2022

B.P. Marsh & Partners Plc

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

 

Investee Company Update - Denison and Partners Limited

B.P. Marsh & Partners Plc (AIM: BPM), the specialist investor in early stage financial services businesses, is pleased to present an update on one of its investments Denison and Partners Limited ("Denison and Partners").

Appointment of Rupert Villers as Non-Executive Director  

B.P. Marsh is pleased to announce the appointment of Rupert Villers as a Non-Executive Director on the Board of Denison and Partners, with effect from 1^st November 2022. The appointment is subject to the customary regulatory approval.

Rupert Villers has over four decades of experience in the London Insurance Market. Rupert co-founded what became SVB Holdings PLC ("SVB") (subsequently renamed Novae Group Plc), where he was Chief Executive between 1991 to 2002, during which SVB achieved a listing on the London Stock Exchange.

While SVB participated in multiple Insurance and Reinsurance classes, it was best known as a leader in Financial and Professional insurance lines.

Rupert subsequently worked for Aspen Insurance Holdings Limited, between 2009 to 2016, where he held a number of senior management positions, including Co-Chief Executive Officer of Insurance and Chairman of Insurance.

Alasdair Ritchie, founder and Chief Executive of Denison and Partners, stated:-

"We are delighted that Rupert has agreed to join Denison and Partners, as a Non-Executive Director. We believe that his four decades of experience in management, underwriting and broking in the London Insurance market will add much to the firm. "

Rupert Villers, stated:-

"I am very pleased to have been asked by Alasdair Ritchie and his backer, B.P. Marsh, to become a Non-Executive Director at Denison and Partners. I look forward to contributing to the business' ambitious growth plans at a time when the insurance market needs more independent thought and voices."

Dan Topping, B.P. Marsh's Chief Investment Officer and nominee Director on the Board of Denison and Partners stated:-

"I would like to welcome Rupert Villers to the Board of Denison and Partners. Alongside B.P. Marsh, Rupert provides Denison and Partners with additional experience and expertise, assisting the business in achieving its growth plans."

Background on investment

B.P. Marsh invested in Denison and Partners in March 2022, taking a 40% shareholding.

Denison and Partners is a start-up London-based Lloyd's Insurance Broker, established by Alasdair Ritchie, with a focus on delivering (re)insurance delegated authority solutions and services to Managing General Agencies, Coverholders and (re)insurers.

Alasdair Ritchie has several decades of experience in (re)insurance, providing boutique risk management and transfer solutions to a wide array of clients.

  For further information:

B.P. Marsh & Partners Plc	www.bpmarsh.co.uk
Brian Marsh OBE	[phone]
Nominated Adviser & Broker Panmure Gordon
Atholl Tweedie / Charles Leigh-Pemberton / Ailsa MacMaster	[phone]
Financial PR & Investor Relations
Tavistock	[e-mail]
Simon Hudson / Tim Pearson	[phone]

Notes to Editors:

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

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.

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