More expansion on way for Bristol malicious risk advisors following £2.7m investment

A Bristol-founded insurance intermediary and risk advisory firm that works with clients to manage issues ranging from kidnap and extortion to cybercrime has raised £2.7m to expand its frontline team.

Launched in Bristol in 2017, CHC Insurance Services’ clients include national governments, multi-national corporations, charities and NGOs as well as high-profile individuals.

It provides them with comprehensive advice and guidance in understanding, managing and transferring their malicious risks.

These include political violence, terrorism, sabotage, kidnap, extortion, maritime piracy, reputational crises, evacuation and cybercrime.

As well as offering broking services in the malicious risks environment, through a wholly-owned subsidiary Samphire Risk it is a managing general agent for these risks.

The business has a global footprint serving clients in five continents, including what it describes as “challenging and hostile environments”.

The investment has been made jointly by an unnamed high-net-worth angel investor, who has put in £1.55m, with the balance from fund manager Maven Capital, through the British Business Bank’s South West Investment Fund (SWIF).

The equity finance will allow CHC to invest in its technology and infrastructure and expand its frontline team to further grow the business and offer a greater service to more clients around the world.

CHC Global managing director Julian Vero said: “As an FCA regulated Lloyd’s of London insurance broker and Lloyd’s cover holder through our subsidiary Samphire Risk, we are proud of our foundation in, and connection to, Bristol.

“Investment from SWIF/Maven represents an exciting next step in our development and maturity as a business. The funding and support from our new investors allows CHC to strengthen our core and puts us in a position to execute upon the numerous opportunities that are evolving in our target space.”

Maven investment manager Rafi Khan, who is based in its Bristol office, said CHC was a high-growth business with a highly scalable product.

“Given the current volatile risk environment, the company is well placed to support high-profile clients across various sectors in managing the malicious risk exposures,”  he added.

“The business has a strong leadership team and we are excited to see them continue as they work towards their exciting growth ambitions.”

British Business Bank Senior Investment Manager Lizzy Upton described CHC as “a great example of a South West business delivering specialist expertise on a global scale”.

She added: “The South West Investment Fund is designed to support ambitious businesses like CHC, helping them to scale, innovate, and extend their reach.

“We’re delighted to back their growth as they continue to expand their services and strengthen their market position.”

The South West Investment Fund offers a range of commercial finance options with loans from £25,000 to £2m and equity investment up to £5.

Maven manages the equity side of the fund in the north of the region and can support earlier stage and established businesses with funding between £150,000 and £5m.

Maven has backed a number of businesses through the fund, including Kelpi, the Bristol biotech company developing innovative bioplastic food packaging from seaweed, global wireless solutions provider Blu Wireless, also based in Bristol, and Cheltenham-based healthcare buy-and-build operator Covestus.

Pictured: Top row, from left: Sally Seaman (broking), Matthew Dawes (CFO), Claudia Palmer (advisory), Diana Britton (financial controller), Jerry Smith (head of advisory)

Bottom row: Rafi Khan (Maven), Julian Vero (CHC managing director), Lizzy Upton (British Business Bank)