REG - B.P. Marsh &Partners - Update on Sodalis Capital Limited

B.P. Marsh & PartnersAnnouncement

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RNS Number : 1305W  B.P. Marsh & Partners PLC  11 March 2026

11 March 2026

 

B.P. Marsh & Partners Plc

("B.P. Marsh", the "Company" or the "Group")

 

Update on Sodalis Capital Limited

 

B.P. Marsh & Partners Plc (AIM: BPM), the specialist investor in
early-stage financial services businesses, notes yesterday's announcement by
portfolio company Sodalis Capital Limited ("Sodalis") regarding the launch of
Brecon Specialty Limited.

 

Background to Sodalis

 

B.P. Marsh invested in Sodalis in November 2025, a newly formed insurance
intermediary group focused on UK and international underwriting, wholesale
broking and related services.

 

Sodalis was established to pursue a buy-and-build strategy within the
international insurance intermediary sector, targeting specialist underwriting
and wholesale broking platforms across the UK, Europe and Asia.

 

B.P. Marsh's investment was made alongside Alliant Insurance Services, Inc.
("Alliant"), which also holds an approximate 27% shareholding in Sodalis.
Alliant is the fifth largest insurance intermediary group globally, generating
over $5bn of insurance brokerage annually.

 

Sodalis was founded by Colin Thompson, an insurance executive with over 30
years' experience in building and managing insurance intermediary businesses
globally. Colin invested alongside B.P. Marsh and Alliant and also holds a
c.27% shareholding in Sodalis.

 

Launch of Brecon Specialty by Sodalis Capital ("Brecon")

 

On 10 March 2026 Sodalis announced the launch of Brecon, a new London-based
wholesale insurance broker.

 

Brecon has been created to provide specialist broking and risk advisory
services to international independent brokers, as well as direct clients, with
a focus on Cyber and Technology Errors & Omissions (E&O) risks
globally.

 

Brecon, which will commence trading immediately, is led by David Rees as CEO,
formally a Managing Director at Howden and a senior figure in the cyber
insurance market. David will lead a team of 14, who collectively have over 100
years of combined experience across cyber insurance and the London insurance
market.

 

The team is made up of experienced  practitioners with long-standing
relationships across insurers and syndicates operating in the Lloyd's and
London company markets, positioning Brecon to provide specialist expertise and
access to capacity for complex cyber and technology liability risks.

 

The launch of Brecon is entirely consistent with Sodalis' strategy at
inception: to build a diversified international specialty insurance platform.

 

David Rees, CEO of Brecon, commented:

 

"Brecon was established to offer a focused independent broker in the London
market. Our broker partners and clients will benefit from best-in-class
service and access to considerable capacity, delivered by a team of cyber
specialists that are at the top of their game."

 

Colin Thompson, Founder and CEO of Sodalis, commented:

 

"We are delighted that David and his team have joined Sodalis to launch Brecon
Specialty. Their deep expertise in cyber and technology E&O, together with
their long-standing relationships across the London market, creates a strong
platform from which to build a leading specialist broker serving clients and
intermediary partners globally."

 

Dan Topping, CEO at B.P. Marsh, commented:

 

"We are pleased to see the launch of Brecon Specialty as part of Sodalis'
broader growth strategy. The team brings deep expertise in  cyber insurance
and strong relationships across the London market. This development further
demonstrates Sodalis' ambition to build a high-quality international specialty
insurance platform."

 For further information on B.P. Marsh, its strategy and current portfolio,
 please visit www.bpmarsh.co.uk (http://www.bpmarsh.co.uk) or contact:

 B.P. Marsh & Partners Plc                                  +44 (0)20 7233 3112

 Daniel Topping / Alice Foulk

 Nominated Adviser & Joint Corporate Broker:                +44 (0)20 7496 3000

 Singer Capital Markets Advisory LLP

 Charles Leigh-Pemberton / Peter Steel / James Todd

 Joint Corporate Broker:                                    +44 (0)20 7597 5970

 Investec Bank plc

 Christopher Baird / David Anderson / Maria Gomez de Olea

 Financial PR & Investor Relations:                         bpmarsh@tavistock.co.uk (mailto:bpmarsh@tavistock.co.uk)

 Tavistock                                                  +44 (0)20 7920 3150

 Simon Hudson / Katie Hopkins / Kuba Stawiski

Forward-looking statements

 

This announcement may include statements, beliefs or opinions that are, or may
be deemed to be, "forward-looking statements". These forward-looking
statements may be identified by the use of forward-looking terminology,
including the terms "believes", "estimates", "plans", "projects",
"anticipates", "targets", "aims", "continues", "expects", "intends", "hopes",
"may", "will", "would", "could" or "should" or, in each case, their negative
or other variations or comparable terminology, or by discussions of strategy,
plans, objectives, goals, future events or intentions. No representation or
warranty is made that any of these statements or forecasts will come to pass
or that any forecast results will be achieved. Forward-looking statements may
and often do differ materially from actual results. Any forward-looking
statements contained in the announcement speak only as of their respective
dates, reflect B.P. Marsh's current view with respect to future events and are
subject to risks relating to future events and other risks, uncertainties and
assumptions relating to B.P. Marsh's business, results of operations,
financial position, liquidity, prospects, growth and strategies.

 

Except as required by any applicable law or regulation, B.P. Marsh expressly
disclaims any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained in this announcement or
any other forward-looking statements it may make whether as a result of new
information, future developments or otherwise.

- Ends -

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