Posted on 11 Jun 2010
B.P. Marsh & Partners Plc said it acquired 30% equity stake in U.S. Risk (UK) Ltd for a cash consideration of GBP 1.40 million.
U.S. Risk is the parent company of NCG Professional Risks Ltd, a London based Lloyd's insurance and reinsurance broker. The investment will be used to drive NCG Professional Risks' growth plans to diversify the business further and strengthen its core areas of focus, such as professional indemnity, North America, special risks and reinsurance.
B.P. Marsh & Partners noted that its investment consists of an equity investment of GBP 1.40 million together with an agreement to provide additional funding of up to GBP 1.95 million.