B.P. Marsh & Companions has invested in Sodalis Capital, a newly launched insurance coverage middleman targeted on underwriting and broking providers.
B.P. Marsh provided £5,337,333 ($7,066,255) for cumulative most popular shares and secured a 26.67% holding within the newly established firm.
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Sodalis will use the funds to pursue a buy-and-build strategy inside the insurance coverage middleman section, with consideration on specialist underwriting and wholesale broking teams all through Europe, the UK and areas within the Center and Far East.
The funding helps Sodalis’ preliminary acquisitions in addition to gives regulatory and dealing capital for each the group and its future subsidiaries.
The transaction entails Alliant Insurance coverage Companies, which is buying an equal 26.67% shareholding underneath the identical circumstances as B.P. Marsh.
Alliant operates as an insurance coverage middleman, reporting greater than $5bn in annual brokerage income.
Its participation is meant to deliver further distribution channels and sector perception to the partnership.
Colin Thompson leads Sodalis as founder and CEO, drawing on greater than 30 years’ expertise in establishing and managing insurance coverage intermediaries at a global degree.
Thompson can also be investing alongside B.P. Marsh and Alliant, taking over an equal 26.67% stake on the identical phrases.
Thompson mentioned: “B.P. Marsh’s long-standing experience and deep sector data make them the best companion as we execute our technique to construct a main unbiased worldwide insurance coverage group, alongside Alliant who present not solely capital however operational experience in constructing blue chip insurance coverage distribution companies.”
B.P. Marsh chief funding officer Dan Topping will be a part of the Sodalis board.
Topping added: “We’re happy to announce our funding in Sodalis, alongside Colin Thompson and Alliant. This partnership brings collectively an skilled administration group and a number one worldwide insurance coverage middleman, creating a robust basis for development within the specialist middleman market.
“We imagine this funding provides a beautiful risk-return profile and additional diversifies our portfolio of insurance coverage middleman companies.”
