B P Marsh & Partners : Investment

Date: 22 November 2016

On behalf of: B.P. Marsh & Partners Plc ('B.P. Marsh' and the 'Company')

For immediate release

B.P. Marsh & Partners Plc

Investment

B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity investor in early stage financial services businesses is pleased to announce that it has subscribed for a 25% cumulative preferred ordinary shareholding in The Fiducia MGA Company Limited ('Fiducia'), a recently established UK Marine Cargo Underwriting Agency, for a total consideration of £75,000.

In addition to the equity investment, B.P. Marsh has agreed to provide Fiducia with total loan funding of up to £1,725,000; £350,000 will be drawn down at completion, and further provision of funds will be subject to Fiducia meeting certain conditions as outlined in the agreed business plan. In line with the Company's established investment criteria, it will be entitled to appoint a nominee director to the Board of Fiducia and will also have the benefit of its usual minority shareholder protections.

Established by its CEO Gerry Sheehy, Fiducia is a registered Lloyd's Coverholder which specialises in the provision of insurance solutions across a number of Marine risks including, Cargo, Transit Liability, Engineering and Terrorism Insurance.

Gerry Sheehy has over 30 years' experience in the insurance industry. Prior to establishing Fiducia, Gerry was a founding shareholder and Executive Director of Northern Marine Underwriters ('NMU') and played a pivotal role in building that business up significantly before his departure in September 2015.

Patricia Dickinson will join Fiducia as Chief Operations Director, having also spent over 30 years at NMU, latterly as Company Secretary.

Commenting on the receipt of this investment Gerry Sheehy, Fiducia's CEO, stated

'Fiducia and its team of experienced individuals are looking forward to working with B.P. Marsh and our supporting Lloyd's Syndicates, to create scale and distribute its products through a select panel of insurance brokers around the UK and Ireland. The plan is to develop Fiducia's position to one of becoming a major Underwriting Agency with an emphasis on increased brand awareness and its products.'

Dan Topping, Chief Investment Officer of the Company, will be appointed to the Board of Fiducia as the Company's nominee director. Commenting on this investment he stated

'We believe that Fiducia is capable of growing into a market leader and we look forward to working with Management to achieve their plans.

This acquisition demonstrates B.P. Marsh's ability to find niche investment opportunities in financial services businesses with strong and capable management teams. This investment, alongside others recently made by B.P. Marsh, supports our on-going aspiration to invest in the Managing General Agency space, both in the UK and internationally.

Specifically, B.P. Marsh is looking to grow its presence in North America. We are of the view that the recent trend of consolidation in the North American insurance market, as well as the surplus of general underwriting capacity, provides Managing General Agencies, working in niche business lines with a distinctive capacity offering, with substantial growth opportunities.'

For further information:

B.P. Marsh & Partners Plc www.bpmarsh.co.uk

Brian Marsh OBE / Camilla Kenyon +44 (0)20 7233 3112

Nominated Adviser & Broker

Panmure Gordon

Atholl Tweedie / Adam James / Charles Leigh-Pemberton +44 (0)20 7886 2500

Notes to Editors:

About B.P. Marsh & Partners Plc

B.P. Marsh's current portfolio contains thirteen companies. More detailed descriptions of the portfolio can be found atwww.bpmarsh.co.uk.

Since formation over 25 years ago, the Company has assembled a management team with considerable experience both in the financial services sector and in managing private equity investments. Many of the directors have worked with each other in previous roles, and all have worked with each other for at least five years.

Prior to Brian Marsh's involvement in the Company, he spent many years in insurance broking and underwriting in Lloyd's as well as the London and overseas market. He has over 30 years' experience in building, buying and selling financial services businesses, particularly in the insurance sector.

Alice Foulk joined B.P. Marsh in September 2011 having started her career at a leading Life Assurance company. In 2014 she took over as Executive Assistant to the Chairman, running the Chairman's Office and established herself as a central part of the management team.

In February 2015 she was appointed as a Director of B.P. Marsh and a member of the Investment Committee. In January 2016 Alice was appointed Managing Director of B.P. Marsh.

In her position as Managing Director, Alice is responsible for the overall performance of the Company and monitoring the Company's overall progress towards achieving the objectives and goals of the Company, as set by the Board.

Dan Topping is the Chief Investment Officer of B. P. Marsh, having been appointed as a Director in 2011. He joined the Company in February 2007, following two years at an independent London accountancy practice. Dan is the Senior Executive with overall responsibility for the portfolio and investment strategy of B.P. Marsh.

Dan graduated from the University of Durham in 2005 and is a member of the Securities and Investment Institute and the Institute of Chartered Secretaries and Administrators.

Dan is a standing member of the B.P. Marsh Investment and Valuation Committees and currently serves as a Board Director across the portfolio.

Camilla Kenyon was appointed as Head of Investor Relations at B.P. Marsh in February 2009, having four years' prior experience with the Company. She was appointed to the main board in 2011. Camilla is Chair of the New Business Committee evaluating new investment opportunities. She has a number of nominee directorships over two investee companies and is a standing member of the Investment Committee. She is a Member of the Investor Relations Society.

Jonathan Newman is a Chartered Management Accountant and is the Group Director of Finance and has over 20 years' experience in the financial services industry. Jon graduated from the University of Sheffield with an honours degree in Business Studies and joined the Group in November 1999, following two years at Euler Trade Indemnity and two years at a Chartered Accountants. Jon is a Member of the Chartered Global Management Accountants, the Chartered Management Accountants and the Chartered Institute of Securities and Investment.

Jon was appointed a Director of B.P. Marsh & Company Limited in September 2001, and Group Finance Director in December 2003 and was instrumental in the admission of the Group to AIM in February 2006. Jon is a member of the B.P. Marsh Investment and Valuation Committees and currently serves as a Board Director for Walsingham Motor Insurance Limited, and provides senior financial support and advice to all companies within the Group's portfolio as well as evaluating new investment opportunities.

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