In the first three months of being operational, the founders of Lilley Plummer Risks Ltd (LPR), Stuart Lilley and Dan Plummer, have than doubled the number of employees working within the company, strategic investor BP Marsh has revealed in a regulatory update.
In October 2019 BP Marsh subscribed for a 30% equity stake in the London-based marine broker. BP Marsh invested £1m by way of both redeemable and non-redeemable preference shares.
LPR has both strengthened their original marine operation and also hired new members of staff, which have enabled them to diversify into new product lines, BP Marsh said.
Mike Lilley joined from Chesterfield Insurance Brokers after 17 years of service, being appointed Chairman of LPR, and to open a Treaty Reinsurance department.
Mike Gooding will be joining LPR from Guy Carpenter after 12 years of service, to head up the Terrorism and Political Violence department.