BP Marsh & Partners plc, the London-based investor in specialist insurance and other financial services related companies, has increased its brokerage investment with the proceeds of its recent AIM listing.
Announcing its first half results on 25 October the company said it had raised £10.1mn net of expenses from the listing, of a total initial capitalisation of £41mn, and has utilised 43 percent of the new funds.
The company invested a further £1.7mn in Besso Holdings, £685,777 in Spanish broker Summa Insurance as well as participating in a £5.1mn equity placing for Hyperion Insurance Group.
The company said its net asset value had risen to £44.9mn by 31 July 2006, an increase of £32.3mn.
The consolidated pre-tax profit for the period was £92,000, up from £67,000 in the prior-year period.
The firm’s chairman Brian Marsh said: “The Group remained unique in its investment sector and we continue to see a large number of relatively small enterprises with excellent management and spirited business plans. These represent a challenge, which the BP Marsh team relishes.”