’This investment aligns with our strategy of partnering with talented management teams at an early stage,’ says chief executive
BP Marsh and Partners has invested in newly formed underwriting agency Dauntless U/W.
Dauntless specialises in marine hull underwriting, focusing on niche areas of the market including brown water, older and distressed tonnage risks.
BP Marsh has acquired a 30% equity stake in the marine underwriting specialist for a nominal consideration and has also provided a £2m loan facility to support the business’s development.
It said the investment aligns with its long-standing strategy of supporting specialist insurance intermediaries and underwriting businesses at an early stage of development.
Dan Topping, chief executive at BP Marsh, said: “We are pleased to support the launch of Dauntless and back a marine underwriting agency in the Lloyd’s and London markets. We have seen good success in this area, both in exited investments as well as within the existing portfolio.
”This investment aligns with our strategy of partnering with talented management teams at an early stage, providing the capital and support to build high-quality specialist insurance businesses.”
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Dauntless operates as an appointed representative of DA Strategy and is supported by A-rated Lloyd’s carriers.
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The underwriting agency has been established by Des Keane and Charles Scott-Hopkins, both of whom bring extensive London market experience.
The pair have previously held senior underwriting positions at a number of leading Lloyd’s market businesses, including Tokio Marine Kiln, CNA Hardy and Ascot.
As part of BP Marsh’s investment, Abigail Benson, investment director at BP Marsh, will join the Dauntless board.
Keane and Scott-Hopkins said: “Dauntless is the natural next step for us, bringing our combined underwriting expertise under one roof with the right capital backing.
”We are delighted to have BP Marsh as our investment partner and look forward to building a business founded on the quality and consistency we have delivered throughout our careers.”
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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