In June 2017, the Group invested $6 million for a 35% stake in U.S.-based specialty lines insurance distribution company XPT, which has since expanded significantly through multiple acquisitions.

Information on the Target

XPT is a U.S.-based specialty lines insurance distribution company that has emerged as a notable player in the insurance sector since its inception. In June 2017, the Group made a strategic investment of $6 million, acquiring a 35% stake in the company through its wholly owned subsidiary, B.P. Marsh (North America) Ltd. Under the leadership of former Swett & Crawford CEO Tom Ruggieri, XPT has positioned itself to capitalize on the burgeoning wholesale insurance broking and underwriting landscape across the United States.

Since its establishment, XPT has demonstrated impressive growth, successfully completing 16 acquisitions to expand its operational scope and expertise. Key acquisitions include firms such as Western Security Surplus Insurance Brokers, which specializes in Property & Casualty insurance; W.E. Love & Associates, focused on Trucking Liability and Motor Truck Cargo; and SVA Underwriting Services, a Lloyd's Coverholder that provides Physical Damage and Cargo coverage specifically tailored for the Trucking Insurance sector.

Industry Overview in the Target’s Specific Country

The U.S. insurance industry is one of the largest and most complex in the world, encompassing a wide range of products and services. Specialty insurance, a sector where XPT operates, focuses on niche markets that often require tailored solutions, thus presenting