REG - B.P. Marsh &Partners - New Investment – Volt UW HoldCo Ltd

B.P. Marsh & PartnersAnnouncement

14/10/2024 07:00

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RNS Number : 9667H  B.P. Marsh & Partners PLC  14 October 2024

14 October 2024

 

B.P. Marsh & Partners Plc

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

New Investment - Volt UW HoldCo Ltd ("Volt")

 

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 25.5% Cumulative Preferred Ordinary shareholding in Volt,
a London-based start-up Managing General Agency ("MGA").

 

B.P. Marsh has agreed to provide funding of up to £2.5m via both equity and a
loan facility, which has been partially drawn upon completion.

 

Volt specialises in energy insurance with a clear focus on insuring property
risks associated with power generation and midstream energy, in both the
non-renewable and renewable sector. Volt has been established by three
experienced industry practitioners, Chris Allison, Andrew Tokley and Kevin
Cleary (the "Co-Founders").

 

Each of the Co-Founders has over 25 years' experience working in senior
leadership positions at various underwriting-led businesses, including large
(re)insurance companies, Lloyd's syndicates and MGAs, each having a proven
track record of success.

 

With the support of B.P. Marsh, the Co-Founders intend to build a
best-in-class, client-centric, energy transition MGA. The business will be
headquartered in London and will underwrite a global portfolio of energy
business, with a particular focus on the US.

 

Volt is a Lloyd's Coverholder and has secured A-rated capacity from Lloyd's,
with the long-term profitability and sustainability for insurers and
reinsurers being a central part of Volt's business plan.

 

Before launching Volt, Chris Allison, Volt's Chief Executive Officer, worked
at Travelers Syndicate for the last 17 years and before then at Aegis, Chubb
and Allianz. During his tenure at Travelers, Chris held various senior roles
including, most recently the Active Underwriter & Head of Specialty.

 

Andrew Tokley, Volt's Chief Underwriting Officer, also recently worked at
Travelers Syndicate, holding various senior roles, most recently as Head of
Energy, Property & Construction, having held previous roles at Aegis,
Chubb and Swiss Re.

 

Kevin Cleary, Volt's Chief Operating Officer, also has held a number of senior
Management positions, having spent the last 8 years at Optio, in a number of
different roles, including Chief Operating Officer.

 

As part of this transaction, Abi Benson, an Investment Director and Executive
Director of B.P. Marsh & Company Ltd, will be appointed to the Board of
Volt.

 

Dan Topping, Chief Investment Officer of the Company, commenting on this
investment, stated:-

 

"B.P. Marsh are pleased to be making this investment in Volt, founded by a
seasoned and skilled management team. We look forward to working with Chris,
Andrew and Kevin, to deliver on their business plan over the coming years,
harnessing our experience and expertise in assisting specialist start-up
underwriting agencies to develop and grow."

 

Chris Allison, CEO of Volt, commented:-

 

"We look forward to working with B.P. Marsh, as we enter the next phase of our
careers in establishing Volt. Alongside B.P. Marsh, our goal is to build Volt
into a successful best-in-class MGA, with Energy being our marquee product
line, with other synergistic product offerings being developed over time.

 

B.P. Marsh has a proven record of investments in our space, and we believe
that they are the perfect partners to help Volt achieve its long-term goals."

 

 

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 & Joint Corporate Broker

 Panmure Liberum Limited
 Atholl Tweedie / Amrit Mahbubani / Ailsa MacMaster  +44 (0)20 7886 2500

 Joint Corporate Broker

 Singer Capital Markets Advisory LLP
 Charles Leigh Pemberton / James Moat / Asha Chotai  +44 (0)20 7496 3000

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

 

Notes to Editors:

B.P. Marsh's current portfolio contains seventeen 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 over ten
years.

 

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