BP Marsh - Profiting from an unglamorous but lucrative niche
Here’s another brief stock pitch for you! BPM joined my watchlist this year, and I have recently invested in it for the second time. Here is an overview.
Disclosure: At the time of publication, I have a long position in BPM.
The Pitch
B.P. Marsh amp; Partners (LON:BPM) is a specialist investor in the insurance sector, typically investing in early-stage managing general agents (MGAs) and related insurance sector operators: brokers, underwriting agents, and other intermediaries.
It’s not an “exciting” or “hot” investment sector, but it has generated very considerable returns for BPM and its shareholders since inception in 1994. Focusing on the last ten years only, the annualised total return for shareholders is in the region of 17%.
With the share price having paused for breath since reaching £7 for the first time in December 2024, I think it again offers very interesting risk:reward possibilities at the current level.
The most recent half-year results, to July 2025, showed the company having a net asset value of £349.5m, or NAV per share of 956.1p. That compares with a market cap today of £237m, and a share price...
Disclosure: At the time of publication, I have a long position in BPM.
The Pitch
B.P. Marsh amp; Partners (LON:BPM) is a specialist investor in the insurance sector, typically investing in early-stage managing general agents (MGAs) and related insurance sector operators: brokers, underwriting agents, and other intermediaries.
It’s not an “exciting” or “hot” investment sector, but it has generated very considerable returns for BPM and its shareholders since inception in 1994. Focusing on the last ten years only, the annualised total return for shareholders is in the region of 17%.
With the share price having paused for breath since reaching £7 for the first time in December 2024, I think it again offers very interesting risk:reward possibilities at the current level.
The most recent half-year results, to July 2025, showed the company having a net asset value of £349.5m, or NAV per share of 956.1p. That compares with a market cap today of £237m, and a share price...