Profits rise at BP Marsh
BP Marsh & Partners, a venture capital outfit with several insurance investments, has announced a consolidated profit after tax of £3.6m.
The results for the year to 31 January 2012 represented a 40.3% increase from the £2.6m it reported in 2011. Net asset value was also up by 7.8% to £50.1m the first time the company has exceeded £50m.
In its portfolio BP Marsh owns a 30% stake in Lloyd's broker Besso Insurance Group, along with slightly over 16% of Hyperion Insurance Group. It recently sold 2.75% of Hyperion to Murofo Investments, for £4.54m in cash.
The figures come a little over a month after Hyperion announced the sale of its
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