Investee Company update - US Risk (UK) Ltd

RNS Number : 7199Y

B.P. Marsh & Partners PLC

05 March 2012

 

Date:                            5^th March 2012

On behalf of:                 B.P. Marsh & Partners Plc ("BP Marsh")                                

For immediate release

B.P. Marsh & Partners Plc

Investee Company update

US Risk (UK) Ltd - Acquisition of James Hampden 
International Insurance Brokers Ltd

US Risk (UK) Ltd ("US Risk UK"), in which BP Marsh invested in June 2010, today announces the acquisition of James Hampden International Insurance Brokers Ltd ("James Hampden").

The acquisition, part funded by the BP Marsh equity investment in 2010, is in line with US Risk UK's strategy for growth and development, and further adds to its capabilities as a specialist insurance intermediary in the Lloyd's and London Market.

James Hampden is a privately owned, specialist international reinsurance and insurance broking company headquartered in the City of London, operating in the Lloyd's and international insurance markets.

Commenting on the acquisition, Randall Goss, Chairman of US Risk UK, said:

"We are delighted that the James Hampden team is joining the Group. This high calibre team has an excellent reputation in the industry and is an important addition to the group.  We look forward to supporting their business plan and helping them to drive growth at this exciting stage in their development."

Simon Hall, CEO of James Hampden, added:

"The team and I are very excited about becoming part of the US Risk UK group.  The increased access to capital and the support of experienced shareholders such as BP Marsh will enable us to accelerate our growth plans and continue to invest in hiring the very best people in our chosen field."

Under the terms of the transaction, Simon Hall, CEO of James Hampden, will join the US Risk UK Board. Randall Goss, Ian Packer (of US Risk UK) and Daniel Topping (of BP Marsh) will join the Board of James Hampden as non-executive directors.

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For further information:

B.P. Marsh & Partners Plc                                                               www.bpmarsh.co.uk

Brian Marsh OBE / Camilla Kenyon                                                     [phone]

Nominated Adviser & Broker

Panmure Gordon

Paul Lumbis / Fred Walsh                                                                     [phone]

Notes to Editors:

About B.P. Marsh & Partners Plc

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

Over the past 20 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.

Jonathan Newman is a Chartered Management Accountant and is the Group Director of Finance and has over 14 years' experience in the financial services industry. Jonathan advises investee companies through three non-executive board appointments and evaluates new investment opportunities.

Daniel Topping is a Member of the Chartered Institute of Securities and Investment (MCSI) and an Associate Member of the Institute of Chartered Secretaries and Administrators (ACIS) having joined the Company in 2007. Dan was appointed director in 2011 and currently holds four non-executive board appointments through which he advises investee companies and he also evaluates new investment opportunities.

Camilla Kenyon was appointed as Head of Investor Relations at B. P. Marsh in February 2009, having four years prior experience with the Company. She holds two non-executive appointments and is Chair of the New Business Committee. She is a Member of the Investor Relations Society.

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