Panmure Liberum acts as Sole Bookrunner in the Secondary Placing and Secondary Share Sale of a total of £23.7m B.P. Marsh Stock

B.P. Marsh, founded by Brian Marsh in 1994 and quoted on AIM in 2006, invests in early-stage insurance intermediaries that many investors would often find hard to reach, including brokers and MGAs (managing general agents, insurance agencies that underwrites policies on behalf of insurers) in the UK, Europe, North America, Australia and Singapore.

The Ardonagh Group, a large independent UK insurance broker, inherited a c.20% holding in B.P. Marsh through an acquisition in October 2024 of an Australian insurance broker, PSC Insurance Group, which has been the second largest shareholder in B.P. Marsh since 2018.

On Friday 9 May 2025, Panmure Liberum announced the successful completion of the sale of 1.9 million of PSC’s shares in B.P. Marsh (via accelerated bookbuild) at a price of 630 pence per share. The sale introduced significant new institutional investors on to the B.P. Marsh register.

On Monday 12 May 2025, following receipt of additional buying demand for the shares after the bookbuild process had completed, Panmure Liberum facilitated the sale of a further 1.8 million of PSC’s shares in B.P. Marsh under the same terms. The sale was made to one institutional investor.

Following the sales, PSC UK now holds c.9.8% of B.P. Marsh's issued share capital. The remaining stake is subject to a 60 day Lock-Up as announced with the Secondary Placing.

Panmure Liberum acted as Sole Bookrunner to the Selling Shareholder and has been Nominated Adviser & Joint Corporate Broker to B.P. Marsh since 2011.

Panmure Liberum Team

Corporate Broking - David Watkins, Sam Elder, Rauf Munir

Investment Banking – Stephen Jones, Atholl Tweedie

Sales – Oliver Baxendale

Research – Barrie Cornes

IR – Jodi Hutchins