New Investment: Dauntless U/W Limited

B.P. Marsh & Partners Plc (AIM: BPM), the specialist investor in early-stage financial services businesses, is pleased to announce that it has made an investment in Dauntless U/W Limited (“Dauntless”), a newly formed London Market underwriting agency specialising in marine hull insurance.

• B.P. Marsh has acquired a 30% equity interest in Dauntless for a nominal consideration.
• As part of the transaction, B.P. Marsh has provided a £2.0m loan facility.
• Dauntless specialises in marine hull underwriting focused on niche, brown water, older and distressed tonnage.
• The business will operate as an Appointed Representative of DA Strategy Limited and is supported by A-rated Lloyd's carriers.

Dauntless has been co-founded by Des Keane and Charles Scott-Hopkins, who have held senior underwriting positions across leading Lloyd's syndicates, including Tokio Marine Kiln, CNA Hardy and Ascot, before establishing Dauntless.

The Board believes that Dauntless represents an attractive opportunity to support Des and Charles and is consistent with the Group’s strategy of investing in high-quality early-stage insurance intermediary businesses.

Abigail Benson, Investment Director at B.P. Marsh, has been appointed to the board of Dauntless.

Dan Topping, Chief Executive Officer of B.P. Marsh, commented:

"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."

Des Keane and Charles Scott-Hopkins, Co-Founders and Partners of Dauntless, commented:

"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 B.P. Marsh as our investment partner and look forward to building a business founded on the quality and consistency we have delivered throughout our careers."

For further information on B.P. Marsh, its strategy and current portfolio, please contact: