B.P. Marsh and Partners Plc, a specialist private equity investor in early stage financial services businesses, has announced its subscription for a 25% stake in Pantheon Specialty Limited (Pantheon), a new holding company formed in partnership with industry veteran Robert Dowman.
Dowman brings over 30 years of experience in the insurance industry, starting his career at Lloyd’s Broker Gallagher Plumer in 1989.
He has held various senior positions at renowned firms such as Jardine Insurance Brokers and Besso Group. Dowman is recognised as a leading London Market Casualty broker, specialising in complex liability placements worldwide.
Pantheon has acquired a 100% shareholding in Denison and Partners Limited (Denison and Partners), an existing Lloyd’s Broker in which B.P. Marsh already held a 40% stake.
As part of this transaction, B.P. Marsh has also provided Denison and Partners with an additional loan funding of £500,000.
Denison and Partners was established in March 2022 by Alasdair Ritchie, with the support of B.P. Marsh.
Ritchie, with over 40 years of experience in the (re)insurance market, will serve as Chairman of both Pantheon and Denison and Partners.
Dowman will assume the role of CEO for both Pantheon and Denison and Partners, pending regulatory approval. Dan Topping, B.P. Marsh’s Chief Investment Officer and nominee Director, will join the Board of Pantheon as a Non-Executive Director while retaining his position on the Board of Denison and Partners.
With B.P. Marsh’s support, Dowman aims to establish a leading independent specialist broker operating across multiple markets. Concurrently, Denison and Partners will continue its growth trajectory as outlined in its original business plan.
Dowman expressed enthusiasm about the new phase of his career and looked forward to working with B.P. Marsh, as well as Ritchie and Topping in their respective roles.
Ritchie welcomed the partnership and Pantheon’s ambitious growth plans, emphasising the need for independent thought in the broker insurance market.
Topping expressed confidence in Dowman and Ritchie, highlighting their extensive expertise and the flexibility demonstrated by B.P. Marsh in structuring the investment.
