B.P. Marsh & Partners PLC
05 March 2007
Date: 5th March 2007
On behalf of: B.P. Marsh & Partners Plc ('B. P. Marsh' or the 'Company')
B.P. Marsh & Partners Plc
Investment in JMD Specialist Insurance Services Group Ltd
B. P. Marsh & Partners Plc (AIM: BPM), a niche venture capital provider to early
stage financial services businesses, announces that it has acquired an equity
interest of 25% in JMD Specialist Insurance Services Group Ltd ('JMD'), for a
consideration of £0.6m. Whilst the Company has made several investments in its
existing portfolio, this transaction represents the first new investment made by
B.P. Marsh since it floated on AIM in February 2006.
JMD is a specialist accelerated premium collection service based in London. It
provides a unique approach to the acceleration of insurance cash flow as well as
effective balance sheet management such as managing outstanding loss reserves
through the use of its bespoke insurance software. Its services include:
- premium collection and control
- facility management
- reinsurance recoveries
- outstanding loss reserves review
- commutations
- closed year collections
- broker performance review
- coverholder reviews
- legacy wordings
B.P. Marsh is funding the investment using its existing cash resources. In line
with the Company's investment approach, a B.P. Marsh director will join the
board of JMD.
Commenting on the investment, Brian Marsh OBE, BP Marsh's Chairman, said:
'JMD has enjoyed a strong reputation in the market for the quality of its
people, services and systems. Its proven track record of achieving measurable
profit enhancements for its clients and excellent management team makes JMD a
very attractive investment proposition. We are delighted to provide the support
needed to enable them to exploit certain opportunities available to them. '
John Dewen, Chief Executive of JMD, commented:
'The Group is now embarking upon the next stage of its strategic development and
we are delighted that BPM, a niche investor in the insurance industry, shares
our vision for the future. Insurance market reforms and the current appetite for
change are presenting a number of opportunities for the Group and BPM's
involvement ensures that we will be able to progress them to their full
potential.'
- ends -
For further information:
B.P. Marsh & Partners Plc www.bpmarsh.co.uk
Brian Marsh OBE +44 (0)20 7730 2626
Redleaf Communications (PR to BP Marsh)
Emma Kane/Tom Newman +44 (0)20 7822 0200
-ends-
Notes to Editors:
About B.P. Marsh & Partners Plc
BP Marsh's current portfolio contains nine companies. More detailed descriptions
of the portfolio can be found at www.bpmarsh.co.uk.
Over the past 16 years, 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 four 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.
Managing Director, Natasha Dunbar, has over 10 years' experience in the
financial services industry. Having joined the Company in 1994 she was made
managing director in March 2002. Natasha is responsible for the day to day
running of all operational aspects of the business and works closely with Brian
Marsh in defining the strategic development of the Company.
Francis de Zulueta is the Company's Development Director. With a wide-ranging
knowledge of the financial services market, he seeks out, researches and
evaluates potential new investments for BP Marsh. Following a 23-year broking
career with Willis Faber and Aon, among others, he took an active interest in
the mergers, acquisitions and venture capital business of Marsh McLennan.
Jonathan Newman is the Group Director of Finance and has 9 years' experience in
the financial services industry. Jonathan advises investee companies through
several non-executive board appointments and evaluates new investment
opportunities.
About JMD Specialist Insurance Services Group Limited
JMD Specialist Insurance Services Group Limited has grown to become a major
provider of leading-edge services to the insurance industry. Its unique approach
to measurable cash flow and profit enhancements adds value to Lloyd's
syndicates, UK and international insurers and reinsurers.
With first-hand experience of the London insurance market, an extensive network
of contacts and its bespoke insurance software i2blade, JMD is able to work with
clients to achieve their objectives without compromising their essential market
relationships.
For more information visit www.jmd-sis.com
This information is provided by RNS
The company news service from the London Stock Exchange
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