The latest acquisitions news for you;
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 49% shareholding in Amiga, for a nominal consideration.
Amiga is a start-up entity, which is looking to build an international specialty underwriting agency, with a diverse portfolio of speciality products across key international markets, both organically and via a targeted M&A strategy. To assist Amiga to achieve their plans, B.P. Marsh has provided a five-year £10m loan facility, £0.5m of which was drawn down on completion. All subsequent drawdowns are conditional upon B.P. Marsh’s approval.
Amiga is headed up by Adam Kembrooke, an industry veteran with over two decades of experience within the insurance sector. Before founding Amiga, Adam Kembrooke held several senior positions at Kentro Capital Limited (“Kentro”). Adam Kembrooke had a key role in expanding Kentro’s presence in the U.S. market, focusing on speciality insurance lines and strategic acquisitions.
Prior to his roles at Kentro, Adam Kembrooke was co-founder of PartnerRe Wholesale and Senior Vice President at Torus Insurance (UK) Ltd.
Adam Kembrooke, Founder & Managing Director of Amiga, commented:-
“We are pleased to have the support of B.P. Marsh as we build Amiga into a leading specialty underwriting platform. With their proven track record in developing high-performing insurance businesses, we are confident in our ability to achieve our ambitious business plans.”
Be the first to comment