’I once again look forward to working with B.P. Marsh as I embark on this new phase of my career,’ says chief executive
Former Besso joint chief executive Robert Dowman is returning to the London market with Pantheon Specialty Limited, a new broker backed by investor B.P. Marsh.
In a statement released earlier this week (21 June 2023), B.P. Marsh said it had subscribed for a 25% stake in the company, which will serve multiple markets.
The announcement added that Pantheon had also acquired Lloyd’s broker Denison and Partners Limited, in which B.P. Marsh owned a 40% stake.
Denison and Partners was established in March 2022 by Alasdair Ritchie, who has over 40 years of experience in the (re)insurance market.
The transaction will see Dowman will become the chief executive of Pantheon and Denison and Partners, while Ritchie will become chairman of both the companies.
As part of the deal, B.P. Marsh has also provided Denison and Partners with further loan funding of £500,000.
“With the support of B.P. Marsh, Robert Dowman is looking to build a market leading independent specialist broker, across multiple markets,” a statement said.
“This will be alongside Denison and Partners continued growth, as per their original business plan.”
Experience
Dowman has over 30 years of experience in the insurance industry, starting his career in 1989 at the Lloyd’s Broker Gallagher Plumer.
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He spent six years at Gallagher before joining Jardine Insurance Brokers in 1995.
Dowman then joined Besso’s Casualty Division in 2000, becoming managing director of Besso Global Casualty in 2007 and joint chief executive of Besso Group and Besso Limited in 2015.
Dan Topping, B.P. Marsh’s chief investment officer, said: “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.”
Topping will also join the Pantheon board and remain on the board of Denison and Partners as the non-executive director representing B.P. Marsh.
“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,” he said.
“We look forward to working with Robert and Alasdair over the coming years in developing their businesses.”
Dowman added: “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.”
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