Exclusive: Pantheon linked with Litherland hire as headcount nears 50

By Ryan Hewlett

July 10 - (The Insurer) – Pantheon Specialty, the ambitious London wholesaler formed in 2023 by ex-Besso joint CEO Rob Dowman, has been linked with the hire of wholesale property market veteran John Litherland.

• Ambitious Pantheon sees headcount near 50 as build-out continues

• BP Marsh valued Pantheon in excess of 275 million pounds ($372 million) in June

• Dowman and Lee launched London wholesaler in June 2023

Litherland is understood to be joining Pantheon following completion of his contractual obligations with Price Forbes, according to multiple London market broking sources.

He joined Price Forbes as part of the intermediary’s assimilation of Ardonagh Specialty stablemate Besso, where he served as a North American property producer and also managed a portfolio of specialty business.

Litherland has more than two decades of experience in the insurance industry, the majority of which was spent in the wholesale property market.

A move to Pantheon, which has cornerstone backing from BP Marsh & Partners, would see Litherland reunited with Dowman, the former joint CEO of Besso, and Michael Lee, the former Besso executive director and head of broking for global casualty who joined the start-up as managing director shortly after launch in June 2023.

Litherland will also be reunited with former Besso chair and founding member Howard Green, who joined Pantheon as group chairman in April last year.

The addition would marks the latest coup for Pantheon, which has seen its headcount near 50 in only two years.

Pantheon Specialty was launched by Dowman in June 2023 in a move which saw the London wholesaler acquire 100% of Denison and Partners, the Lloyd’s broker founded by former BMS Group executive Alasdair Ritchie and in which BP Marsh owned a 40% stake.

Pantheon produced revenue of almost 20 million pounds and Ebitda of 12 million pounds in its first full year of operation and in now forecasting to achieve an adjusted Ebitda in excess of 18 million pounds in 2025.

Since launch the broker has embarked on a rapid build-out. High-profile hires include former Price Forbes North America casualty specialist Danielle Thorsteinson, Lilley Plummer’s Conor O’Regan and claims specialist Karen Dawson.

BP Marsh revealed last month that it had acquired a further 2% shareholding in Pantheon, split equally from founders Dowman and Lee, at an equity value of 275 million pounds.

BP Marsh’s total shareholding in Pantheon now stands at 39%. Alongside the further acquisition of shares, BP Marsh agreed a 5 million pound revolving loan facility, with 3.5 million pounds being drawn down on completion.

BP Marsh said this funding provides Pantheon with the flexibility to sustain and accelerate its strong growth trajectory, driven by organic growth, strategic team hires and opportunistic M&A.

Pantheon declined to comment.