B.P. Marsh & Partners Plc, a specialist private equity investor in early-stage financial services businesses, has successfully acquired a 30% Cumulative Preferred Ordinary shareholding in Ai Marine Risk Limited (Ai Marine), a London-based Managing General Agency (MGA).
The deal includes a funding commitment of up to £1.6 million, comprising a mix of equity and a loan facility.
Ai Marine, founded by experienced marine insurance specialists Tom Fulford-Smith and Charles D’Alton, specialises in Marine Hull insurance and aims to underwrite a global portfolio of business with a focus on the UK & Europe, Middle East, and Asia-Pacific regions.
The partnership with B.P. Marsh positions Ai Marine to build a market-leading, client-centric marine MGA.
As part of the transaction, Abi Benson, an Investment Director and Executive Director of B.P. Marsh & Company Ltd, will join Ai Marine as the nominee Non-Executive Director on its Board. This move signifies B.P. Marsh’s active involvement in the strategic direction of Ai Marine.
Ai Marine has secured A-rated capacity from several carriers, emphasising its commitment to delivering long-term profitability and sustainability for its insurer/reinsurer partners.
The company is headquartered in London, with a distribution center in Scandinavia, reflecting its ambition to provide risk solutions to a global portfolio of marine clients.
The co-founders, Tom Fulford-Smith and Charles D’Alton, bring a wealth of experience to Ai Marine, having previously led Latitude Brokers Limited for eight years. Their strong networks within the global ship-owning and insurance broking communities position Ai Marine for profitable growth.
Jonny Moss, an experienced Chief Underwriting Officer, joins Ai Marine from Norwegian Hull Club’s London office, bringing valuable expertise to the team. His background as a Naval Architect further strengthens Ai Marine’s capabilities in the marine insurance sector.
Dan Topping, Chief Investment Officer of B.P. Marsh & Partners, expressed enthusiasm about the investment, stating, “We are very pleased to be making this investment in Ai Marine and are looking forward to working with Tom and Charles to enable Ai Marine to deliver substantial growth and robust results over the coming years.”
Charles D’Alton and Tom Fulford-Smith, Co-founders of Ai Marine, shared their excitement about the partnership with B.P. Marsh, highlighting the latter’s strong team and proven track record of sound investments and sustainable strategic partnerships. They expressed confidence in achieving their long-term goals with the support of B.P. Marsh.
