REG - B.P. Marsh &Partners - New Investment – Pantheon Specialty Limited

B.P. Marsh & PartnersAnnouncement

21/06/2023 13:15

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RNS Number : 4813D  B.P. Marsh & Partners PLC  21 June 2023

21 June 2023

 

 

B.P. Marsh & Partners Plc

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

 

New Investment - Pantheon Specialty Limited ("Pantheon")

 

B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity investor
in early stage financial services businesses, is pleased to announce that it
has subscribed for a 25% stake in Pantheon Specialty Limited ("Pantheon"), a
new holding company established in partnership with Robert Dowman.

 

Robert Dowman has over 30+ years of experience in the insurance industry,
starting his career in 1989 at the Lloyd's Broker Gallagher Plumer. Robert
spent six years at Gallaghers before joining Jardine Insurance Brokers in
1995. Robert then joined Besso's Casualty Division in 2000, becoming Managing
Director of Besso Global Casualty in 2007 and Joint CEO of Besso Group and
Besso Limited in 2015.

 

Robert is seen by the industry as a leading London Market Casualty broker,
specialising in the larger more complex liability placements across the world,
whether that be on a facultative or programme basis.

 

Upon the establishment of Pantheon, it acquired a 100% shareholding in the
existing Lloyd's Broker, Denison and Partners Limited ("Denison and
Partners"), in which B.P. Marsh owned a 40% stake. As part of this process,
B.P. Marsh has also provided Denison and Partners with further loan funding of
£500,000.

 

Denison and Partners was established in March 2022 by Alasdair Ritchie, with
the support of B.P. Marsh. Alasdair has over 40 years of experience in the
(re)insurance market. Prior to establishing Denison and Partners, Alasdair had
held a number of senior roles at Willis Group, now known as Willis Towers
Watson (WTW), Marsh McLennan and most recently BMS Group. At BMS Group
Alasdair established, and was Managing Director of, BMS Professional and
Financial Risks Limited.

 

As part of this transaction, Robert Dowman will become the CEO of both
Pantheon and Denison and Partners, the latter subject to regulatory approval.
Alasdair Ritchie will become Chairman of both Pantheon and Denison and
Partners. Dan Topping will join the Board of Pantheon and remain on the Board
of Denison and Partners, as the Non-Executive Director representing B.P.
Marsh.

 

With the support of B.P. Marsh, Robert Dowman is looking to build a market
leading independent specialist broker, across multiple markets. This will be
alongside Denison and Partners continued growth, as per their original
business plan.

 

Robert Dowman, the Founder and CEO of Pantheon commented:-

 

"I once again look forward to working with B.P. Marsh, as I embark on this new
phase of my career.

 

 I am also looking forward to working with Alasdair Ritchie, as Chairman, and
Dan Topping, as Non-Executive Director."

 

Alasdair Ritchie, Chairman of Pantheon commented:-

 

"I welcome this new association with Robert Dowman and Pantheon's ambitious
growth plans, especially at a time when the broker insurance market is lacking
true independent thought."

 

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

 

"Following our long previous association with Robert Dowman, we welcome this
opportunity to enter into partnership with him once again. Robert has a strong
and proven track record in growing businesses and is one of the most
experienced brokers in his field of expertise.

 

Such an investment, and the acquisition of Denison and Partners and
association with Alasdair Ritchie, is an example of the flexible and unique
approach the business can take to structuring an investment.

 

We look forward to working with Robert and Alasdair over the coming years in
developing their businesses."

 

For further
information:

 

 B.P. Marsh & Partners Plc                          www.bpmarsh.co.uk (http://www.bpmarsh.co.uk/)
 Brian Marsh OBE                                    +44 (0)20 7233 3112

 Nominated Adviser & Broker

 Panmure Gordon
 Atholl Tweedie / Stephen Jones / Amrit Mahbubani   +44 (0)20 7886 2500

 Financial PR & Investor Relations
 Tavistock                                          bpmarsh@tavistock.co.uk
 Simon Hudson / Tim Pearson                         +44 (0)20 7920 3150

 

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
(http://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.

 

 

- Ends -

 

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