Oak Re receives Lloyd’s start-up approval subject to Q4 capital raiseFormer RenaissanceRe Europe CUO Cathal Carr has received provisional approval from Lloyd’s this week for a 2025 start-up syndicate that will be managed by third-party managing agency PoloWorks, The Insurer can reveal.
Marco Capital strikes second R&Q deal with Lloyd’s unitMarco Capital has struck a second deal with the collapsed R&Q Group, with its Lloyd’s subsidiary Polo Managing Agency taking over the third-party management and administration of RITC Syndicate 1110 and securing over 20 jobs in the process, this publication can reveal.
R&Q agrees Inceptum sale to Marco Capital as liquidation filing confirmedR&Q has agreed to sell UK-based legacy general insurer Inceptum to run-off specialist Marco Capital, as well as separately confirming its provisional liquidation filing in Bermuda.
Carvill becomes chairman of Polo Insurance ManagersPoloWorks has appointed Mel Carvill as chairman of Polo Insurance Managers, The Insurer can reveal.
Marco Capital reports $51.4mn pre-tax profit for 2023Legacy specialist Marco Capital has reported a pre-tax profit of $51.4mn for the 2023 full year, a turnaround on 2022’s pre-tax loss of $18.82mn.
Expansion of international reinsurance legacy book on the cards but US liability concerns remain: Marco Re’s ElliottExpansion of its international reinsurance legacy book is on the cards for Marco Re, which has been repurposed from the merger of two reinsurers in run-off to a legacy underwriting platform.
PwC and Marco unveil new insurance services JV PoloPartnersPoloWorks, part of Marco Capital Group, has launched PoloPartners, a joint venture with PwC UK designed to combine capabilities and expertise within the insurance services market.
Marco Re assigned A- financial strength rating by AM BestMarco Capital’s newly launched Marco Re unit has been assigned a financial strength rating of A- by AM Best, a move the P&C legacy and outsourced services group’s CEO Simon Minshall described as a “differentiator” between the firm and its run-off acquisition rivals.
PoloWorks launches Guernsey-based captive managerMarco-owned PoloWorks has received in-principle approval from the Guernsey Financial Services Commission to launch Polo Insurance Managers, a new unit serving captive, commercial and ILS clients.
Marco Re born from ashes of Credit Suisse’s ILS exitFast-expanding legacy and services provider Marco Capital Holdings has unveiled Marco Re as the new brand for its recently merged Guernsey subsidiaries Humboldt Re and Kelvin Re.
New Marco Capital partnership to help legacy market for motor bodily injuryMarco Capital, the P&C legacy solutions provider, has joined forces with Manchester-headquartered law firm Weightmans LLP to provide an augmented intelligence tool for the legacy motor market.
Marco Capital acquires ex-Credit Suisse ILS vehicle Kelvin ReEuropean P&C insurance run-off group Marco Capital has announced the acquisition of Guernsey-based Kelvin Re, the former Credit Suisse ILS vehicle.
Marco completes acquisition of Navigators International Insurance CompanyOaktree Capital-backed European legacy specialist Marco Capital Holdings has completed its acquisition of Navigators International Insurance Company from The Hartford, The Insurer can reveal.
Marco undertakes £200mn UK motor LPT with MarkelEuropean legacy specialist Marco Capital has entered a loss portfolio transfer transaction with Markel for a portfolio of UK motor insurance business.
Marco acquires Navigators International Insurance CompanyOaktree Capital-backed European legacy specialist Marco Capital Holdings has acquired Navigators International Insurance Company (NIIC) from The Hartford.
Marco completes Part VII transfer of Allianz’s Gibbon PoolLegacy specialist Marco has received approval from the High Court to transfer the remaining risks in Allianz Suisse’s UK subsidiary known as the Gibbon Pool.
Marco restructures Polo leadership as Sykes departsPolo Works has strengthened its management team with the appointment of Paul Andrews as Group CEO of the business and subject to regulatory approval Polo Managing Agency (PMA) with Richard Lawson joining the Marco-owned firm as CEO of Polo Commercial Insurance Services (PCIS).