Shares in BP Marsh rise as insurance investments pay off

Shares in BP Marsh rose 6% after the specialist investor in financial services intermediary businesses, including insurance firms, reported robust results for the first half of the year.

BP Marsh updated the market on the progress of the companies in which it invests, including several insurance firms. It said Nexus Underwriting is forecasting an adjusted EBITDA of some £20 million over the next 12 months, which would represent a compound annual increase in EBITDA of 45 percent since Marsh’s investment in August 2014. Nexus has appointed Andrew Moss as non-executive Chairman. Moss spent five years as chief executive of Aviva, and prior to this he held senior positions within Lloyd’s of London.

CBC, the London-based Lloyd’s broking business has increased its EBITDA by 40% in 2018, and is on target for increasing at the same rate in 2019.

In December 2017, Marsh invested in EC3, an independent specialist Lloyd’s broker and reinsurance broker. Since investment, EC3 is expected to grow its top line revenue from about £9 million to a budgeted target of approaching £14million in the year to 31 December 2019, while also maintaining a good underlying profit margin.

Marsh said its investments in Australia continue to perform well in a challenging insurance market, with premium income and profitability increasing across the board.

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