Marco completes the acquisition of British Reserve Insurance Company Ltd from Allianz Insurance plc
7th January 2021
Marco Capital Holdings Limited (“Marco”) – European P&C Legacy specialist – today announced the completion of its acquisition of British Reserve Insurance Company Ltd (“BRIC”), a UK non-life insurance company, from Allianz. The transaction has received all required regulatory approvals.
BRIC comprises the basis of Marco’s regulated platform for future Legacy transactions in the UK and the London Market. BRIC, an authorised UK non-life insurance carrier, enables Marco to provide reinsurance solutions and to offer finality by acquiring portfolios of non-life insurance loss reserves.
Simon Minshall, CEO of Marco, said “BRIC, Marco’s first UK transaction, provides Marco with an excellent underwriting platform for P&C Legacy transactions in the UK and the London Market. Our growing professional team, experienced in both Legacy and Live P&C, supported by our outsourcing partners enables Marco to offer innovative and competitive solutions to our counterparties”.
Marco’s Europe focused P&C strategy includes Legacy business opportunities located in or sourced from the UK, Lloyd’s of London and Continental Europe.