Cripps advises B.P. Marsh on its investment in new marine MGA

Cripps’ corporate team has advised insurance private equity investor, B.P. Marsh & Company Ltd (“B.P. Marsh”), on its investment in Ai Marine, a London-based managing general agent (MGA) specialising in marine hull insurance. B.P. Marsh has agreed to provide up to £1.6m of funding via a mixture of equity and a loan facility, which will be partially drawn down upon completion.

Established by insurance specialists Tom Fulford-Smith and Charles D’Alton, Ai Marine specialises in marine hull insurance and will underwrite a global portfolio with a strong focus on the UK, Europe, Middle East and Asia Pacific regions. The MGA is backed by A-rated capacity.

The Cripps private equity team was led by Salim Somjee and also included Emma Storkey. This was the third investment carried out by the team for B.P. Marsh in 2023.

Abigail Benson, Investment Director and Executive Director at B.P. Marsh, commented: “Once again, Salim and Emma provided B.P. Marsh with seamless support throughout this transaction, understanding the brief and ensuring a smooth completion process .”

To learn more about how Cripps can support your business on its growth journey, please contact a member of the corporate team.