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
Hirect to Showcase In-House Developed 6,000 HP Electric Locomotive Propulsion System and Indian Railways Contract at InnoTrans 20268.9.2026 14:09:00 EEST | Press release
Hirect (NSE: HIRECT), a premier manufacturer of heavy-duty electrical and power electronic systems for rail network rolling stock, will debut its new 6,000 HP locomotive propulsion system at InnoTrans 2026, Berlin, 22 - 25 September. The company will also announce the first development order for the complete trainset propulsion system, which will deliver the power and traction package for Indian Railways' next-generation Mainline Electric Multiple Unit (MEMU) fleet. Hirect's 6,000 HP electric locomotive propulsion system — designed, engineered and manufactured entirely in-house, including its liquid-cooled IGBT traction inverters/converters and proprietary control software — completed its acceptance regime this year after successfully hauling loaded freight in a WAG-9 locomotive under India's severe duty cycles and demanding thermal operating environment. The qualification opens one of the world's largest locomotive markets to Hirect's complete propulsion package, and establishes a mod
NIQ Expands Product Intelligence Across Western Europe, Strengthening the Foundation for AI-Driven Commerce8.9.2026 13:32:00 EEST | Press release
NIQ (NYSE: NIQ), a leading consumer intelligence company, today announced the expansion of NIQ Product Insights (NPI) across Western Europe, strengthening its Product Intelligence portfolio to help brands and retailers better understand what drives shopper choice and category growth. The expansion brings enhanced product intelligence capabilities to Austria, Belgium, Italy, Netherlands, Portugal, Spain and Switzerland, building on existing availability in France, Germany, Ireland, and the United Kingdom. As shoppers, and increasingly the digital and AI-powered tools that guide them, evaluate products against specific health, wellness, sustainability, and ingredient preferences, product attributes are becoming an increasingly important part of commerce’s intelligence infrastructure. Brands and retailers need more than traditional market measurement to understand which attributes influence selection and drives growth. NPI connects those attributes with real-world sales performance. NPI c
Compass Pathways to Debut U.S. HCP Education Campaign and Present New HEOR Data at Psych Congress 20268.9.2026 13:30:00 EEST | Press release
Compass Pathways plc (Nasdaq: CMPS), a biotechnology company dedicated to unlocking urgently needed new treatment options in mental health care, today announced its participation at Psych Congress 2026, taking place in New Orleans, LA, from September 14-19. The Company will debut Change the Tune in TRD, a new educational campaign for U.S. HCPs focused on TRD, and present new HEOR data examining the burden of TRD alongside encore presentations from its COMP360 psilocybin clinical development program. Change the Tune in TRD: Advancing HCP Education Change the Tune in TRD is a new educational initiative for U.S. HCPs exploring the neurobiology and navigating care pathways in TRD. The campaign will be debuted in a three-panel Innovation Theater on September 15th from 12:15-1:30pm in Room 220-222. The featured panelists include: Saundra Jain MA, PsyD, LPC, Psychotherapist, Adjunct Clinical Affiliate, University of Texas at Austin School of Nursing; Private Practice, Austin, Texas Bryan B. S
HTEC and Modular Extend MAX and Mojo to Google TPU, Cutting AI Hardware Enablement from Years to Months8.9.2026 13:17:00 EEST | Press release
HTEC, a global AI-first engineering and technology services company, and Modular have demonstrated Modular's AI software stack running on Google's TPU architecture. Presented at ModCon 2026, the work shows that support for a new silicon target can be delivered by extending an existing software foundation rather than rebuilding it for each accelerator. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260908670401/en/ HTEC, a global AI-first engineering and technology services company, and Modular have demonstrated Modular's AI software stack running on Google's TPU architecture. Presented at ModCon 2026, the work shows that support for a new silicon target can be delivered by extending an existing software foundation rather than rebuilding it for each accelerator. The project brought Modular's MAX and Mojo ecosystem to Google TPU in months, a class of hardware enablement effort that has traditionally taken years. It provides pr
Circle Expands Global Payments Infrastructure with Agreement to Acquire Singapore-Based Cross-Border Payments Platform, Tazapay8.9.2026 13:05:00 EEST | Press release
Circle Internet Group, Inc. (NYSE: CRCL), the global financial technology firm and issuer of USDC today announced it has signed a definitive agreement to acquire Tazapay, a Singapore-headquartered B2B cross-border payments infrastructure company focused on serving payment service providers and financial institutions. The deal is expected to close in 2027, subject to customary closing conditions and receipt of regulatory approvals, including approval from the Monetary Authority of Singapore. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260908409825/en/ “Stablecoin settlement is becoming core infrastructure in the global economy, and combining USDC with Tazapay’s world-class banking relationships, local payout rails, and institutional customer base will accelerate worldwide USDC adoption,” said Jeremy Allaire, Co-Founder, CEO, and Chairman at Circle. “Tazapay has been a design partner for Circle Payments Network since 2025 a
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