REG - B.P. Marsh &Partners - New Investment- supporting the growth of XPT Group

B.P. Marsh & PartnersAnnouncement

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RNS Number : 2453V  B.P. Marsh & Partners PLC  14 August 2025

14 August 2025

 

 

B.P. Marsh & Partners Plc

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

 

New Investment supporting the Growth of XPT Group LLC

 

 

B.P. Marsh & Partners Plc (AIM: BPM), the specialist private equity
investor in early-stage financial services businesses, is pleased to announce
that it has made a complementary investment in support of its US-based
investee company, XPT Group LLC ("XPT"), through the formation of Gambit Risk
Finance LLC ("Gambit Re"), a newly formed reinsurance vehicle for selected XPT
underwriting programmes.

 

This initiative is designed to support XPT's strategic growth ambitions and to
enhance its operational and financial flexibility.

 

Gambit Re is a newly created reinsurance entity which will enable XPT's
Underwriting Arm, Platinum Specialty Underwriters ("Platinum"), to provide
limited risk capital to selected underwriting programmes within Platinum's
insurance portfolio, supporting its expansion. The vehicle will operate on a
fully collateralised basis.

 

B.P. Marsh has committed a maximum of $5m to Gambit Re, of which $1.875m will
be funded on completion. In return, B.P. Marsh will receive a preferred equity
shareholding of c. 8%, which carries an 8% preferred annual return.

 

Gambit Re will initially support five profitable Platinum programmes across
its underwriting portfolio. The vehicle is expected to deliver a strong
risk-adjusted return, underpinned by Platinum's historical underwriting
discipline.

 

Gambit Re's capital structure is comprised of $60m of preferred equity, with
participation from:

 

·    Accord Capital Investments ("Accord Capital") ($45m);

·    RSP, a vehicle formed by XPT senior management ($10m); and

·    B.P. Marsh ($5m).

 

Accord Capital is a US-based alternative lending and capital advisory firm,
based in Chicago. Accord Capital's mantra is to offer strategic capital and
operational guidance to entrepreneurial teams from early-stage startups to
mature enterprises.

 

Management and operational services will be provided by Platinum, with
reinsurance administration outsourced to Atlantic Security Limited, a
Bermuda-based specialist.

 

B.P. Marsh sees this as an opportunity to support one of its experienced
management teams with a track record in the sector, backed by strong
investors. We are confident that Gambit Re can deliver long term returns to
our shareholders, further building on our ability to source and make unique
investment opportunities in the insurance sector, alongside our primary focus
on insurance distribution investments.

 

Dan Topping, Chief Investment Officer of B.P. Marsh, commented:

 

"This investment is a natural extension of our long-standing partnership with
XPT. Gambit Re enables XPT to demonstrate alignment with its carrier partners
and expand its Platinum underwriting footprint with greater flexibility.

 

"The initiative aligns with our approach of backing entrepreneurial management
teams with capital solutions tailored to their growth ambitions. We are
pleased to continue supporting the XPT team in building a best-in-class
specialty platform."

 

Tom Ruggieri, CEO of XPT, commented:

 

"We're delighted to have B.P. Marsh's continued support as we execute this
strategic initiative to strengthen XPT's long-term growth.

 

"Gambit Re allows us to demonstrate conviction in our Platinum underwriting
programs and provide our partners with added confidence through aligned
capital. The initiative reflects our commitment to innovation and our focus on
building a sustainable, high-performing specialty platform. We value the
partnership with B.P. Marsh and are excited to move forward together."

 

 For further information, please visit www.bpmarsh.co.uk
 (http://www.bpmarsh.co.uk) or contact:

 B.P. Marsh & Partners Plc                          +44 (0)20 7233 3112

 Brian Marsh OBE / Alice Foulk

 Nominated Adviser & Joint Corporate Broker:        +44 (0)20 7886 2500

 Panmure Liberum Limited

 David Watkins / Atholl Tweedie / Amrit Mahbubani

 Joint Corporate Broker:                            +44 (0)20 7496 3000

 Singer Capital Markets Advisory LLP

 Charles Leigh Pemberton / Asha Chotai

 Financial PR & Investor Relations:                 bpmarsh@tavistock.co.uk (mailto:bpmarsh@tavistock.co.uk)

 Tavistock                                          +44 (0)20 7920 3150

 Simon Hudson / Katie Hopkins / Kuba Stawiski

 

 

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