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B.P. Marsh takes stake in Dauntless marine underwriting agency
The investment includes a 30% stake for nominal consideration and a £2 million loan facility, supporting Dauntless’s focus on niche marine hull risks.
Dauntless, a newly formed London Market underwriting agency specializing in marine hull insurance, has drawn an investment from B.P. Marsh & Partners, with B.P. Marsh taking a 30% stake for nominal consideration, according to Coverager.
Coverager adds that B.P. Marsh also provided a £2 million loan facility as Dauntless launches with a specialty focus on niche marine hull risks, including vessels operating on inland waterways and older or distressed tonnage.
Dauntless will operate as an Appointed Representative of DA Strategy Limited, with capacity from A-rated Lloyd’s carriers, and its co-founders include Des Keane and Charles Scott-Hopkins, whose underwriting background includes senior roles at Tokio Marine Kiln, CNA Hardy and Ascot.
Coverager reports that B.P. Marsh investment director Abigail Benson has joined Dauntless’s board, and Des Keane and Charles Scott-Hopkins said they are looking to build the agency based on the quality and consistency they have delivered throughout their careers.