Marco announces that the Malta Financial Services Authority grants licence to Marco Insurance PCC Limited
3rd June 2021
Marco Capital Holdings Limited (“Marco”) – European P&C insurance run-off group – today announced that the Malta Financial Services Authority (MFSA) has authorised the licence of its subsidiary Marco Insurance PCC Limited (“Marco Insurance PCC”) to operate as a Property & Casualty insurance and reinsurance company.
Marco Insurance PCC is licensed for all 18 classes of non-life insurance and reinsurance. The business has been established as a Protected Cell Company (PCC), to provide additional flexibility in structuring solutions. It is intended that Marco Insurance PCC will act as Marco’s lead carrier for EU business under EU Freedom of Services Regulations.
Simon Minshall, CEO of Marco, said “I am delighted to announce that the Malta Financial Services Authority has authorised and approved Marco Insurance PCC Limited. This essential step in Marco’s development comes at a time of substantial change in the European P&C Legacy sector. Marco is well placed to offer attractive and competitive solutions to facilitate greater risk, capital and operational efficiency within European P&C, enabling insurance groups to place even more emphasis on new business opportunities”.