B.P. Marsh backs marine underwriting agency Dauntless

B.P. Marsh & Partners has acquired a 30% stake in Dauntless , a newly formed London Market underwriting agency specializing in marine hull insurance, for nominal consideration. The investor also provided a £2 million loan facility.

Dauntless focuses on niche marine hull risks, including vessels operating on inland waterways and older and distressed tonnage. It will operate as an Appointed Representative of DA Strategy Limited, with capacity from A-rated Lloyd’s carriers.

The business was co-founded by Des Keane and Charles Scott-Hopkins, whose underwriting experience includes senior positions at Tokio Marine Kiln, CNA Hardy and Ascot. B.P. Marsh Investment Director Abigail Benson has joined Dauntless’s board.

“We are delighted to have B.P. Marsh as our investment partner and look forward to building a business founded on the quality and consistency we have delivered throughout our careers.” — Des Keane and Charles Scott-Hopkins, co-founders and partners of Dauntless.