PE firm acquires 27% stake in London-based specialty MGA

Private equity (PE) investor BP Marsh has acquired a 27% shareholding in London-based MGA Cameron Specialty.

Founded by chief executive Tom Kirkland, Cameron Specialty specialises in UK property insurance in the commercial combined and property owners sectors.

As part of the deal, BP Marsh has agreed to provide funding of up to £1.7m via a mix of equity and loan facility. The loan facility was partially drawn upon completion.

Dan Topping, chief investment officer at BP Marsh, said: “We are pleased to be making this investment in Cameron Specialty, a business led by a highly experienced team. We look forward to partnering with their management team to deliver on their growth ambitions over the coming years, leveraging our expertise in helping early-stage underwriting agencies develop and scale.

“Cameron Specialty represents a strong addition to our diversified portfolio of insurance intermediaries and aligns well with the type of business we have successfully backed and developed over the past 30 years.”

Next steps

With additional backing, Cameron Specialty’s management team will look to expand the property insurance offering into Ireland and Europe, leverage existing broker relationships and develop into other lines of business.

Kirkland said: “We are excited to welcome BP Marsh as a partner in Cameron Specialty as we embark on the next stage of our growth journey. Their expertise in the insurance sector, combined with a proven track record of supporting entrepreneurial businesses, makes them an ideal partner for us.

“With BP Marsh’s backing, Cameron Specialty is well-positioned to deliver on its strategic objectives of expanding our footprint across the UK and European property insurance market and building a leading, specialist underwriting agency.

“We look forward to working closely with the BP Marsh team to achieve our long-term ambitions.”