SAGE Program Underwriters Launches Investment Partnership with B.P. Marsh

29 June 2020 

 

SAGE Program Underwriters, Inc and B.P. Marsh & Partners Plc

 

Investment – SAGE Program Underwriters

 

 B.P. Marsh and Partners Plc (AIM:BPM), the specialist private equity investor in early stage financial services businesses is pleased to announce that it has agreed to subscribe for a 30% Cumulative Preferred Ordinary shareholding in SAGE Program Underwriters (“SAGE”), for an equity consideration of $250,000 (c. £200,000).

 

 Based in Bend, Oregon, USA, and established in 2019, by CEO Chuck Holdren, SAGE provides specialist insurance products to niche industries, initially in the inland delivery and field sport sectors. 

 

 Mr Holdren has over 3 decades of experience in the insurance industry. Prior to establishing SAGE, he founded and managed two national underwriting agencies from start-up to successful trade sale. He has also worked in senior management roles across the insurance sector. 

 

During his career, Mr Holdren has designed and implemented numerous underwriting programs for niche insurance sectors and has many long-lasting relationships with agents, brokers, and insurers across the USA. 

 

  In addition to the equity consideration, the Company will provide a loan facility to SAGE of $250,000 (c. £200,000). This facility is available from completion and will be utilized by SAGE to bring about future growth

 

 Chuck Holdren, SAGE’s CEO, commented “We are thrilled to have B.P. Marsh as a partner in SAGE to help support our current and long-term goals. In addition to the financial investment, the team at B.P. Marsh brings a significant amount of insurance experience, expertise, and relationships.  This allows SAGE to develop new programs, coverages and talent that we have already identified.  Our partnership with B.P. Marsh will position SAGE to be the leading insurance provider for the industries we serve.” 

 

 Dan Topping, Chief Investment Officer of the Company, commenting on this investment, stated “We are pleased to be investing in SAGE, and we look forward to developing a successful partnership with Chuck and his team. He has a fine reputation for providing solutions to particular sectors which were previously underserved in the Workers Compensation insurance market. The specialist nature of SAGE within the insurance sector corresponds with our investment approach in seeking partnerships with skilled management teams.” 

 

 

SAGE Program Underwriters, Inc.

Our headquarters are located in beautiful Bend, Oregon. We proudly serve our clients all across this great country.

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