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Asia: UK venture firm buys 20% of Asia Reinsurance Brokers

Source: Asia Insurance Review | Jun 2016

UK-based B P Marsh & Partners, a niche venture capital provider, has has acquired a 20% shareholding in Asia Reinsurance Brokers (ARB), the Singapore-headquartered independent specialist reinsurance and insurance risk solutions provider, for about S$2.4 million (US$1.78 million).
   The Group may increase its shareholding in ARB to 25% for an additional cash consideration of up to S$500,000, according to a company statement. The consideration paid by the Group will be dependent on ARB’s performance in its financial year ending 31 December 2017.
   B P Marsh sees the acquisition as an opportunity to invest in a well-established and profitable business with an experienced and respected management team and strong growth potential, the statement said. The investment will be used to build on ARB’s position in the Asian market and to assist them in their growth ambitions.
   ARB was established in 2008, following a management buy-out of the business from AJ Gallagher, led by then-CEO Richard Austen. ARB specialises in providing long-term reinsurance and insurance solutions throughout Asia and is a fully registered insurance intermediary with MAS, the Singapore regulator. It has offices throughout the region, including Singapore, Malaysia, the Philippines and Indonesia.
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