Lloyd’s Council approves establishment of Marco’s new syndicate to provide RITC and other Legacy solutions to Lloyd’s syndicates.

Marco Capital Holdings Limited – European P&C insurance run-off group – today announced that Lloyd’s Council has granted ‘in principle’ approval to Marco to establish an RITC/run-off syndicate. Formal approval of the syndicate is subject to completion of the “Making it Happen” review phase. The Council’s decision enables Marco to participate in and quote on RITC and other run-off opportunities coming to market during this season.

Simon Minshall, CEO of Marco, said “I am delighted to announce this important milestone in Marco’s development which completes our strategic set-up. Lloyd’s represents a major market place for P&C run-off transactions – comprising RITC (which is unique to Lloyd’s) and other Legacy solutions for business written by Lloyd’s syndicates. We are very pleased to have reached this stage early in Marco’s history. Receiving Lloyd’s approval validates Marco’s professional approach and its excellent reputation. This is a significant step forward in the development of our franchise”.