Marco announces the acquisition of British Reserve Insurance Company Ltd from Allianz Insurance plc
25.8.2020 09:00:00 EEST | Business Wire | Press release
Marco Capital Holdings Limited (“Marco”) - Europe’s newest P&C Run-off group - today announced that it has agreed to purchase British Reserve Insurance Company Ltd (“BRIC”), a UK non-life insurance company, from Allianz. The transaction is subject to regulatory approval.
The transaction provides the basis of Marco’s regulated platform for future run‐off transactions in the UK/London Market. The acquisition of BRIC will provide Marco with an authorised UK non-life insurance carrier suitable for acquiring portfolios of non-life insurance loss reserves through reinsurance or Part VII Transfer, thereby building its UK run-off business.
Established in 1935, BRIC became part of Allianz shortly after the acquisition of Cornhill Insurance in 1986. BRIC ceased writing new business in 2015 and carries a low level of operational and financial risk.
Simon Minshall, CEO of Marco, said “I am delighted to announce the acquisition of BRIC as Marco’s first transaction, subject to regulatory approval, as this provides Marco with an excellent underwriting platform for P&C Run-Off transactions in the UK companies market”.
Marco’s Europe focused P&C strategy includes Run-Off business opportunities located in or sourced from the UK, Lloyd’s of London and Continental Europe.
Marco
Marco is a European P&C Run-Off solutions provider headquartered in Malta. The group offers finality solutions to carriers for discontinued business, balance sheet optimisation and other purposes by acquiring loss reserve portfolios, through reinsurance and acquisitions of entities. Supported by €500m initial committed equity capital, to be augmented with ancillary own funds, with €750m ‘dry powder equity’ Marco offers a leading proposition to carriers seeking finality solutions in the European P&C arena. Funds managed by Oaktree Capital Management, L.P. “Oaktree” are Marco’s Founding Investors.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200824005682/en/
Contact information
Press Contact
Jonathan Walker
+44 777 184 4367
jwalker@marcocapital.net
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
CFO Worx Named No. 448 on the 2026 Inc. 5000 List, the Most Prestigious Ranking of America’s Fastest-Growing Private Companies13.8.2026 23:21:00 EEST | Press release
CFO Worx today announced it has been ranked No. 448 on the 2026 Inc. 5000 list, the annual list of the fastest-growing private companies in America. The list is the most prestigious ranking of the nation’s most successful independent and entrepreneurial businesses, recognizing companies that have achieved remarkable growth while driving innovation, creating jobs, and shaping the future of the economy. Past honorees include companies such as Microsoft, Meta, Chobani, Oracle, and Patagonia. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260813927944/en/ Brian Alvarez, CEO of CFO Worx "Earning a place on the list comes down to the trust our clients place in us and is a testament to the caliber of the team behind every engagement," said Brian Alvarez, CEO of CFO Worx. This year’s Inc. 5000 recognizes a new class of companies redefining what growth looks like. From AI and advanced manufacturing to healthcare, consumer products, a
BTG Pactual TIG and Conservation International Reach 20,000 Hectares of Cerrado Under Restoration, Accelerating Latin American Reforestation Strategy, Increasing Biodiversity and Social Impacts13.8.2026 18:47:00 EEST | Press release
BTG Pactual Timberland Investment Group (BTG Pactual TIG) and Conservation International today announced that native ecosystem restoration is now underway across more than 20,000 hectares of Brazil's Cerrado biome, marking a significant acceleration of the firms' Latin American reforestation strategy. According to data recorded by the Brazilian Restoration and Reforestation Observatory, an independent platform that tracks and maps native vegetation recovery, this further cements the strategy’s position as the largest ever restoration effort in the region. Conservation International serves as Impact Adviser for social and environmental outcomes. The strategy focuses on conserving, restoring and reforesting degraded landscapes across Latin America, including Brazil's Cerrado, one of the world’s most biodiverse and fastest disappearing seasonally dry ecosystems. More than half of the Cerrado has already been cleared for cattle ranching and farming. The strategy targets degraded cattle pas
Milliman names Jim Fulton next CEO13.8.2026 18:40:00 EEST | Press release
Milliman, Inc., a leading global actuarial and consulting firm, today announced that Jim Fulton has been named Milliman’s next Chief Executive Officer. Fulton has served as Milliman’s Chief Financial Officer since 2015 and has been a leader driving the firm’s organic growth and M&A strategy. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260811027168/en/ Milliman, Inc., a leading global actuarial and consulting firm, today announced that Jim Fulton has been named Milliman’s next Chief Executive Officer. Fulton has served as Milliman’s Chief Financial Officer since 2015 and has been a leader driving the firm’s organic growth and M&A strategy. Fulton’s appointment reflects Milliman’s evolution from an actuarial firm to a multidisciplinary consultancy, risk management, and technology solution provider. His expertise includes stints with Big 4 accounting and private equity-owned firms as well as technology startups. Fulton’s com
Clinilabs Announces Leadership Expansion and Welcomes Laura Shannon as Chief Executive Officer and Promotion of Founder Gary Zammit, Ph.D., to Executive Chairperson13.8.2026 17:05:00 EEST | Press release
Clinilabs, a leading specialty contract research organization (CRO) focused on central nervous system (CNS) drug and device development, today announced leadership expansion. Laura Shannon joins the organization as Chief Executive Officer as Gary Zammit, Ph.D., the Company’s founder, assumes the role of Executive Chairperson. This expansion of the senior leadership team is a recognition of a growing organization with global capabilities and continuing commitment to advancing treatments for patients with psychiatric and neurological disorders. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260813362140/en/ Laura Shannon joins Clinilabs as Chief Executive Officer as Gary Zammit, Ph.D., the Company’s founder, assumes the role of Executive Chairperson Ms. Shannon is a dynamic leader with more than 30 years of biopharma industry experience, known for her ability to build high-performing teams, forge strategic alliances, and drive
Resurgens Technology Partners Invests in Qarma to Advance the Future of Quality and Compliance13.8.2026 16:00:00 EEST | Press release
Resurgens Technology Partners (“Resurgens”), a software-focused private equity firm, today announced its partnership with Qarma, a leading global provider of AI-powered quality and compliance software for brands, retailers, and manufacturers managing complex, global supply chains. Qarma has built a platform that combines best-practice quality and compliance with hands-on execution where it matters most, on the factory floor. Qarma will continue to be led by its Co-founders, CEO Jacob Nedergaard and CTO Søren Mønsted. Founded in 2016, Qarma serves customers across industries, including furniture and home, apparel, consumer goods, and electronics. Its platform connects quality and compliance teams, sourcing professionals, suppliers, and inspectors. Over the past decade, Qarma has built one of the industry’s deepest operational quality platforms, combining best-practice workflows with software designed to work natively on factory floors worldwide. This unique operational foundation has ge
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom