The Group reported significant growth in portfolio value, strong returns for shareholders, and continued momentum in new investments.

During the reporting period, B.P. Marsh completed a new investment in Devonshire UW Limited, a transactional risk underwriting agency, and increased its shareholding in Pantheon Specialty Group Limited by 7%, bringing its total stake to 32%. Additionally, the Group participated in a pre-emption process at XPT Group LLC, acquiring $1 million worth of shares in an internal share issue.

The Group also realised £42.1 million from the sale of its 38.63% stake in Paladin, which was completed on March 22, 2024.

Following the end of the reporting period, B.P. Marsh made two additional investments in underwriting agencies: CEE Specialty s.r.o., based in the Czech Republic, and Volt UW Ltd., a newly established energy underwriting agency. The company expressed confidence in the strategic positioning of both management teams and looks forward to supporting their growth ambitions.

B.P. Marsh delivered a total shareholder return of 12.1% for the period, driven by the growth in Net Asset Value (NAV) and dividends paid in March, May, and July 2024. The NAV increased by £23.7 million, or 10.3%, to £252.9 million, compared to £229.2 million in January 2024. NAV per share also saw a rise of 9.8%, reaching 690.8p, up from 629.0p in January. The Group reported a consolidated profit before tax of £29.0 million for the period, nearly doubling from £15.6 million in the same period last year. Liquidity remained strong, with the Group holding £80.2 million in liquid assets as of July 31, 2024, and current liquidity at £78.4 million.

B.P. Marsh remains focused on leveraging its expertise to pursue new investments and provide follow-on funding to support portfolio companies.

Chairman Brian Marsh OBE commented, “We are pleased to report another strong set of results, demonstrating growth in our portfolio, successful investment realisations, and strong shareholder returns.”

He added “The sale of Paladin highlights the success of our investment strategy. We remain committed to identifying new opportunities and continuing this momentum with sustainable growth.”