Marco announces the transformational acquisition of Capita plc’s insurance businesses CCIS and CMA
2nd November 2021
Marco Capital Holdings Limited – European P&C insurance run-off group – today announced the acquisition of Capita plc’s insurance businesses Capita Commercial Insurance Services (CCIS) and Capita Managing Agency (CMA). This transformational transaction will bring Marco Group headcount to over 300 insurance specialists. The transactions are subject to regulatory approval.
Capita Commercial Insurance Services (CCIS) has over 250 highly skilled employees located in Cheltenham and London. The business is a large scale, highly regarded specialist insurance services provider, delivering a wide range of outsourcing services, including technical support services solutions across underwriting support, claims management and client finance services, to London Market clients.
Capita Managing Agency (CMA) is one of only two independent turnkey providers at Lloyd’s. This long established business offer a wide breadth of services with a broad offering across business planning support, underwriting, actuarial and reserving, and regulatory compliance.
Simon Minshall, CEO of Marco, said “I am delighted to announce the acquisitions of CCIS and CMA. These two long-established businesses have tremendous growth potential in their core markets and Marco Capital will provide financial and other support to achieve this potential. While these businesses will operate on a standalone basis independently of Marco’s core Legacy business, they will substantially increase Marco’s operational capabilities as Marco will become a client of both companies – starting with CMA which has been appointed as Managing Agent for Marco’s new syndicate to be established at Lloyd’s and later contracting with CCIS for technical support services.”