BP Marsh and Partners Plc, a specialist private equity investor in early stage financial services businesses, has announced its subscription for a 25% stake in Pantheon Specialty Limited (Pantheon), a new holding company formed in partnership with industry veteran Robert Dowman.
Dowman brings over 30 years of experience in the insurance industry, having started his career at Lloyd’s Broker Gallagher Plumer in 1989.
He has held various senior positions in renowned companies such as Jardine Insurance Brokers and Besso Group. Dowman is recognized as a leading London Market Casualty broker, specializing in complex liability placements worldwide.
Pantheon has acquired a 100% shareholding in Denison and Partners Limited (Denison and Partners), an existing Lloyd’s Broker in which BP Marsh has a 40% stake.
As part of this transaction, BP Marsh also provided Denison and Partners with an additional loan fund of £500,000.
Denison and Partners was founded in March 2022 by Alasdair Ritchie, with the support of BP Marsh.
Ritchie, who has more than 40 years of experience in the (re)insurance market, will serve as Chairman of Pantheon and Denison and Partners.
Dowman will hold the role of CEO for Pantheon and Denison and Partners, pending regulatory approval. Dan Topping, Chief Investment Officer of BP Marsh and nominee Director, will join the Board of Pantheon as a Non-Executive Director while retaining his position on the Board of Denison and Partners.
With the support of BP Marsh, Dowman aims to establish a leading independent specialist broker operating in multiple markets. At the same time, Denison and Partners will continue on the development path as outlined in the original business plan.
Dowman expressed enthusiasm about the new phase of his career and is looking forward to working with BP Marsh, as well as Ritchie and Topping in their respective roles.
Ritchie welcomed the partnership and Pantheon’s ambitious growth plans, emphasizing the need for independent thinking in the broker insurance market.
Topping expressed confidence in Dowman and Ritchie, highlighting their extensive expertise and the flexibility shown by BP Marsh in structuring investments.