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.
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 .”
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