Chairman looks for investments in London
Venture capitalist B P Marsh is on the hunt for deals in the insurance sector.
Chairman Brian Marsh said the firm, which holds a 21% stake in the Hyperion Group and 22.7% in Besso, was ready to invest when the right opportunities came along.
He said managing general agencies, brokers, underwriter agencies and loss adjusters were all potential targets – and he would prefer to invest in a London business with global potential, rather than the rest of the UK, which was “too mature”.
B P Marsh posted a drop in the value of its assets to £39.7m for the six months ending in July, compared with £41.6m for the six months ending in January this year.
Marsh said this was due to writedowns in investments outside insurance. “We are holding it steady during a bad storm and we will resume the calm when the storm is over,” he said.
B P Marsh is listed on the Alternative Investment Market (AIM). It lent Hyperion £2.56m in June to help international expansion.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
