BP Marsh acquires 27% of London MGA Cameron Specialty

By Ryan Hewlett

June 17 - (The Insurer) - London-listed venture capital investor BP Marsh has acquired a 27% shareholding in Cameron Specialty, a London-based specialty MGA.

BP Marsh said in a stock exchange filing on Tuesday that it has agreed to provide funding of up to 1.7 million pounds ($2.3 million) to Cameron Specialty comprising both equity and a loan facility. The loan facility was partially drawn upon completion.

Cameron Specialty was launched in 2021 by former Citynet and FSJ broker Tom Kirkland. It specialises in UK property insurance in the commercial combined and property owners sectors.

Founder and CEO Kirkland has 20 years of experience in the insurance industry across both broking and underwriting.

The team also includes Louise Dench as head of operations, Lewis Adams as assistant underwriter and Brooke Simpson as underwriting assistant. Citynet non-executive chairman and former Heath Lambert and Howden Broking Group CEO Adrian Colosso serves as chair.

Following the deal, Cameron Specialty will look to expand its property insurance offering into the Republic of Ireland and Europe, alongside entering other lines of business.

Kirkland said: "With BP Marsh’s backing, Cameron Specialty is well-positioned to deliver on its strategic objectives of expanding our footprint across the UK and European property insurance market and building a leading, specialist underwriting agency.”

BP Marsh chief investment officer Dan Topping said: “Cameron Specialty represents a strong addition to our diversified portfolio of insurance intermediaries and aligns well with the type of business we have successfully backed and developed over the past 30 years.”