BP Marsh sells stake in Besso
BP Marsh has sold its stake in Besso, citing an inability to provide the “financial firepower” the Lloyd’s broker requires for further growth.
The investor sold its 37.94% shareholding, which it has held for 21 years, to BGC Group.
BGC now owns 100% of Besso, giving the firm an entire enterprise valuation of £70.5m.
"We have stuck with Besso
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Lloyd’s/London
Natural for insurers to ‘wobble’ after Blueprint Two delay
It’s natural to expect frustration from the London market following the latest delay to Blueprint Two, according to Jamie McDonnell, London market lead at Guidewire.t.
Top 50 Reinsurers of 2024 revealed
Munich Re and Swiss Re remain at the top of Insurance Post’s Top 50 Reinsurers 2024 list, despite Christopher Pennings, financial analyst at AM Best, observing the rankings have been shaken up by a shift in accounting requirements.
Reeves announces consultation on UK captives regime
Rachel Reeves has announced a consultation on a new approach to regulating UK captive insurers in her first Mansion House speech as Chancellor of the Exchequer.
Probitas opens five lines of business following Aviva sale
Probitas will begin quoting for five new classes of business marking the first development since it was acquired by Aviva earlier this year.
Upcoming webinar: How is the delegated authority business changing in the digital age?
With The Lloyd’s Market Association crunching the findings of its market-wide consultation on the new Computable Binding Authority Agreement (CBAA) model, bordereaux management is entering a new era.
Is carbon insurance the biggest opportunity in decades?
With carbon insurance tipped to become a billion-dollar market by 2030 as demand for risk transfer in the carbon credit supply chain grows, Harry Curtis looks at the risks involved and the first movers in the nascent market.
Big Interview: Paul Brand, Convex
Paul Brand, group CEO of Convex, sits down with Harry Curtis to discuss the insurer and reinsurer’s plans to hit and surpass $5bn GWP, the difficulties of technology adoption, and why he thinks current market conditions are “brittle”.
Antares launches UK insurer to tap into MGA market
Antares has launched a UK-based insurer, which will form part of a new retail division focused on business written primarily through established managing general agents.