Marco Launches with €500m Committed Initial Equity Capital to Focus on European Property & Casualty Run-off Opportunities

• Simon Minshall Leads Marco as CEO
• Dieter Wemmer Appointed Chairman of Marco
• Funds managed by Oaktree Capital Management, L.P. “Oaktree” are Founding Investors

Marco Capital Holdings Limited (“Marco”) has launched in Europe’s P&C run-off market. Based in Malta,
Marco will pursue run-off opportunities located in/emanating from Continental Europe, the UK and
Lloyd’s of London.

Capital Holdings Limited (“Marco”) has launched in Europe’s P&C run-off market. Based in Malta, will pursue run-off opportunities located in/emanating from Continental Europe, the UK and

Capital Holdings Limited (“Marco”) has launched in Europe’s P&C run-off market. Based in Malta, will pursue run-off opportunities located in/emanating from the Continental Europe, the UK and

Founded and led by Simon Minshall, ex-Chief Financial Officer of run-off carrier DARAG and previously Deputy Group CFO at Endurance, and Jonathan Walker, former Merrill Lynch and Baring Brothers re/insurance M&A investment banker who leads Marco’s Origination initiative, Marco enters the European run-off arena with a highly experienced executive team (to be announced on joining), an eminent Board and substantial capital resources provided by majority investor Oaktree and Marco’s management.

Minshall commented that “Marco joins the European run-off arena at an auspicious moment – when the need to resolve legacy and facilitate capital management has been exacerbated by the extraordinary conditions insurers face in 2020 – on both sides of the balance sheet. Marco seeks to provide a professional, well capitalised counterparty for insurers and reinsurers seeking run-off and other solutions”.

Dieter Wemmer, Marco Chairman, remarked “as a former seller of reserves to run-off companies, I appreciate the need for highly professional and well capitalised counterparties. The dynamics of the P&C industry beyond 2020’s challenges include the coming impact of InsurTech which will affect traditional business models and increase demand for efficient capital management solutions. Marco will position itself as a market with professionalism, integrity and sufficient capital to serve this demand”.

Marco’s Insurance Company Board will comprise –

• Chairman Dieter Wemmer – ex-Group CFO Allianz SE, prior Group CFO Zurich. Currently UBS Board;
• Rolf Tolle – Lloyd’s first Franchise Board Director, currently QBE Board;
• Monika Sebold-Bender – former ERGO Group Management Board responsible for P&C, prior management Board Member at Generali Deutschland, senior positions at Allianz SE and AXAGermany. Currently MS Amlin Europe Board;
• Juanita Bencini – former KPMG Partner specialising in Risk. Currently serving on Boards of several insurers and a bank in Malta. Macro strategy is to focus on P&C Run-Off business opportunities located in/emanating from continental Europe, the UK, and Lloyd’s of London by acquiring portfolios of non-life insurance loss reserves, through reinsurance structures – loss portfolio transfers (LPT), adverse development cover (ADC), Part VII Transfer or through purchasing entities.