B.P. Marsh and Partners has acquired a 27% stake in Cameron Specialty, a London-headquartered specialty managing general agent (MGA).

The private equity firm has pledged to offer funding of up to £1.7m, comprising a mix of equity and a loan facility.

A segment of the loan facility was utilised upon the finalisation of the transaction.

Established in 2021, Cameron Specialty focuses on property insurance in the UK, specifically within the commercial combined and property owners sectors.

Tom Kirkland, the founder and CEO of Cameron Specialty, has 20 years of expertise in the insurance sector. His experience encompasses both broking and underwriting.

Kirkland called B.P. Marsh an “ideal partner” due to its “expertise in the insurance sector, combined with a proven track record of supporting entrepreneurial businesses”.

“With B.P. Marsh’s backing, Cameron Specialty is well-positioned to deliver on its strategic objectives of expanding our footprint across the UK and European property insurance market and building a leading, specialist underwriting agency,” he added.

With the support of B.P. Marsh, Cameron Specialty intends to broaden its property insurance services into the Republic of Ireland and Europe.

The management team aims to capitalise on existing broker connections while exploring opportunities in additional lines of business.

Cameron Specialty non-executive chairman Adrian Colosso said: “We are thrilled to welcome B.P. Marsh as an investor in Cameron Specialty. Their commitment brings not only capital but also a wealth of expertise and a long-standing reputation in the insurance sector.”

In October, B.P. Marsh gained a 25.5% shareholding in Volt, another London-based MGA. Volt specialises in property risks for power generation and midstream energy across renewable and non-renewable industries.