BP Marsh Invests in Energy-Focused Insurance Specialist Volt

2 min read | October 14, 2024 10:13 PM AEDT | By Team Kalkine Media

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BP Marsh Invests in Energy-Focused Insurance Specialist Volt — Image source: Shutterstock

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Highlights:

Strategic Investment: BP Marsh acquires 25.5% stake in Volt, committing up to £2.5 million in funding.

Focus on Energy Sector: Volt specializes in underwriting property risks related to renewable and non-renewable energy across the global market.

Experienced Leadership: Volt's founders bring over 25 years of experience each from senior roles in major insurance companies and Lloyd's syndicates.

BP Marsh (LSE:BPM), a specialist investor in financial services businesses, announced its latest investment in London-based managing general agency (MGA) Volt, which focuses on energy insurance. The AIM-traded firm revealed that it had acquired a 25.5% stake in Volt and committed up to £2.5 million in funding, encompassing both equity and a loan facility, part of which was drawn upon completion of the deal.

Volt, founded by insurance industry veterans Chris Allison, Andrew Tokley, and Kevin Cleary, targets property risks associated with both renewable and non-renewable energy generation. Each of the three founders brings over 25 years of experience, having held senior roles at prominent insurance and reinsurance companies, including Lloyd's syndicates.

BP Marsh's latest investment reflects the firm's strategic push into the growing energy transition sector. Volt aims to position itself as a client-centric, top-tier energy transition MGA, underpinned by A-rated capacity from Lloyd's, with a particular focus on the US market. As a Lloyd's coverholder, Volt will underwrite a global portfolio of energy-related insurance.

In addition to the financial investment, Abi Benson, investment director at BP Marsh, will join Volt’s board, adding her expertise to support the company's growth ambitions.

Dan Topping, chief investment officer at BP Marsh, expressed enthusiasm for the partnership, stating, "BP Marsh is pleased to be making this investment in Volt, founded by a seasoned and skilled management team. We look forward to working with Chris, Andrew, and Kevin to deliver on their business plan over the coming years."

At 1235 BST, BP Marsh shares rose 1.18% to 559p, reflecting positive market sentiment following the announcement.

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