BP Marsh & Partners Plc, an investor specializing in early-stage financial services businesses, has announced an investment in Ventura Risk Partners Holdings Limited, a new insurance brokerage focused on energy risks at Lloyd’s and the wider London insurance market.
As part of the transaction, BP Marsh acquired a 25% fully diluted shareholding in Ventura for a nominal amount and provided a £2 million loan facility.
Headquartered in London, Ventura is a start-up brokerage focused on energy-related risks in the Lloyd’s and London markets. The company was founded by Alex Taylor, who built his career in the sector, initially with JLT Group and later with Miller Insurance Services, specializing in energy placements. His experience has led him to develop relationships with London market underwriters and North American brokers.
The London energy brokerage market has experienced consolidation in recent years, resulting in a reduction in the number of independent specialist providers available to retail brokers in North America. Ventura intends to address this issue by operating independently and focusing on technical expertise in risk placement rather than pursuing scale.
The board of BP Marsh believes the investment is consistent with its strategy to support an early-stage insurance intermediary business with strong potential. It also provided the opportunity to support Alex Taylor during the initial stages of Ventura’s development.
In connection with this investment, BP Marsh investment director Abigail Benson has joined Ventura’s board of directors.
Taylor commented: “I am delighted to be launching Ventura Risk Partners with the support of BP Marsh. Their long track record of supporting specialist insurance brokers at an early stage whilst allowing the management team to independently build a high quality business makes them an ideal partner for Ventura.
“The London energy market has seen significant consolidation in recent years and we believe there are clear opportunities for independent platforms that prioritize technology placement expertise and close collaboration with retail brokers. BP Marsh’s support provides us with the financial backing and strategic insight to give Ventura a strong foundation as we build the business and selectively expand into adjacent energy and power-related businesses.”
Dan Topping, CEO of BP Marsh, added: “We are delighted to support the launch of Ventura Risk Partners and support a specialist platform focused on bringing North American energy risk into the Lloyd’s and London markets.
“This investment is well aligned with our strategy of partnering with outstanding management teams at an early stage and providing capital and strategic support as they build high-quality, professional insurance businesses.”
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