Marco completes Part VII transfer of Allianz Suisse liabilities
24th January 2023
We are pleased to announce that we have received approval from the High Court to transfer the remaining risks in Allianz Suisse’s UK Branch (underwritten by Mr R.W. Gibbon and known as “The Gibbon Pool”) to our UK carrier, British Reserve Insurance Company Limited (“BRIC”), under Part VII of the Financial Services and Markets Act 2000. This will take effect from 23:59 on 31st January 2023.
Our CEO, Simon Minshall said: “I am pleased to announce that Marco has provided a risk and operational solution for Allianz regarding these Legacy liabilities and completed its first Part VII at the same time. Marco offers all types of solutions to P&C re/insurance carriers which may have a risk, capital and/or operational dimension – we seek to provide a valuable service to our clients to meet their targets”.