EC3 Brokers has announced new investment from existing shareholder BP Marsh & Partners to accelerate strategic growth as the broker strengthens its expansion plans. This will take BP Marsh’s holding in the broker to 35%.
EC3 brokers was recently awarded the healthcare scheme by the Dubai International Financial Centre as the consultant for the healthcare offering to all DIFC-based businesses. They are also working with the UK Government on the ‘Let Live Thrive’ initiative for the Government to step in as the insurer of last resort within the sports and entertainment industry.
This latest strategic investment will allow EC3 Brokers to broaden its offering and to attract entrepreneurial teams to develop new market-leading products.
Driscoll said: “This new investment is a very welcome endorsement of our business and will enable us to further enhance our presence in the entertainment sector, while developing new products and strengthening our existing capabilities via new teams and potential acquisitions. BP Marsh have been a strong supporter since our formation and we welcome their continued involvement.”
Formed in 2013 by CEO Danny Driscoll, EC3 Brokers is an independent commercial lines Lloyd’s broker, headquartered in London with subsidiaries in the US and the DIFC. The business employs around 50 people. EC3 Brokers is an intermediary in the reinsurance and MGA world, specialising in wholesale property, and US construction, as well as global entertainment/contingency in which lines the company enjoys a market-leading presence.
BP Marsh is a specialist investor in early stage financial services intermediary businesses, including insurance intermediaries, financial advisers, wealth and fund managers and specialist advisory and consultancy firms. It considers investment opportunities based in various parts of the world.
The full terms of the transaction are not disclosed and closing is subject to obtaining relevant regulatory approvals.