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
Stonebranch Unveils Latest Release of Universal Data Mover Gateway (UDMG), Advancing Orchestrated B2B MFT25.2.2026 16:00:00 EET | Press release
Stonebranch, a leading provider of service orchestration and automation solutions, today announced the latest release of its Universal Data Mover Gateway (UDMG) — an enterprise-grade managed file transfer (MFT) solution purpose-built for secure, orchestrated B2B data exchange across hybrid landscapes. “In today’s enterprises, file transfer is not a standalone task. It’s the backbone of data pipelines, analytics, and critical business processes,” said Giuseppe Damiani, CEO of Stonebranch. “By orchestrating MFT alongside workload and infrastructure automation, Stonebranch turns file movement into a governed, observable, SLA-driven part of end-to-end enterprise workflows.” Secure, Modern B2B Managed File Transfer UDMG is designed specifically for external B2B data exchanges — where stringent security, regulatory compliance, SLA reliability, and diverse partner protocols require a modern B2B MFT solution. Enterprises can securely exchange data with partners, vendors, and customers worldwid
Axinn Adds Three Seasoned Antitrust Litigators, Reinforcing Trial Bench and West Coast Presence25.2.2026 16:00:00 EET | Press release
Axinn, Veltrop & Harkrider LLP announced today that Daniel Matheson, Katrina Rouse, and Jimmy Moore have joined its Antitrust practice as partners. Matheson arrives from the Federal Trade Commission (FTC), while Rouse and Moore join from the U.S. Department of Justice (DOJ) Antitrust Division. Rouse will join Axinn’s San Francisco office; Matheson and Moore will join the firm’s Washington, DC office. The additions strengthen Axinn's trial bench and West Coast practice as the firm continues to attract top antitrust talent. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225403123/en/ Daniel Matheson (Left), Katrina Rouse (Center), and Jimmy Moore (Right) have joined Axinn, Veltrop & Harkrider's LLP Antitrust practice as partners. “Axinn continues to invest in top-tier talent and trial capabilities as we deepen our commitment to clients and their most complex challenges,” said Jeny Maier, managing partner of Axinn. “The addi
KleanNara Partners with Rimini Street to Accelerate Digital Transformation25.2.2026 16:00:00 EET | Press release
Rimini Street, Inc. (Nasdaq: RMNI), the Software Support and Agentic AI ERP Company™, and the leading third-party support provider for Oracle, SAP and VMware software, today announced KleanNara has selected Rimini Street to provide support for its SAP ECC 6 and Oracle Database systems. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225123422/en/ KleanNara Partners with Rimini Street to Accelerate Digital Transformation Founded in 1966, KleanNara is one of South Korea’s leading manufacturers of paper and hygiene products. Holding a 25% share of the white cardboard market, the company is known for its commitment to quality, sustainability and innovation, and continues to expand globally with a focus on ESG-driven, eco-friendly products. Breaking Free from Traditional ERP Support Constraints For years, KleanNara relied on a traditional ERP support model for its SAP ECC 6 and Oracle Database, systems which are critical for th
Klarna Reaches 55 Million Monthly App Users as Usage Surges 53% Year Over Year25.2.2026 15:00:00 EET | Press release
Klarna, the global digital bank and flexible payments provider, is seeing a sharp rise in both monthly and daily app usage, as more consumers use the global digital bank’s services as part of their everyday money management. The Klarna app now reaches more than 55 million monthly active users globally, with 9 million people using the app on a daily basis. Daily engagement has increased by approximately 53% compared with last year, highlighting increasingly frequent use of Klarna’s banking, spending and shopping services. Sebastian Siemiatkowski, CEO and co-founder of Klarna: “When people use Klarna every day, it shows we’re delivering on our vision of becoming the global digital bank for the next generation. Consumers are using the app to stay on top of their spending and manage their money, which is exactly how we see Klarna evolving into an everyday money management app people rely on in daily life.” The massive app growth follows Klarna’s recent launches including a debit card, memb
Tecnotree Wins in Two Categories at Asian Telecom Awards 202625.2.2026 13:20:00 EET | Press release
Tecnotree, a global leader in AI-native digital business support systems for telecom operators, today announced it has won AI Initiative of the Year – United Arab Emirates and Digital Initiative of the Year – United Arab Emirates at the 2026 Asian Telecom Awards. Winning alongside Singtel, Mobicom, Telkomsel, MyRepublic, Telecom Malaysia, Ooredoo Kuwait, E& and many more reinforces Tecnotree’s industry-leading innovations in AI-powered customer engagement and digital experience platforms. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260225387227/en/ Tecnotree Wins in Two Categories at Asian Telecom Awards 2026 The awards recognise Tecnotree’s AI-powered Moments Engagement and Experience Management platform and the MVNE/MVNO CX Catalyst Initiative, two distinct but complementary capabilities that together demonstrate what it means to be a truly AI-native, TM Forum ODA-aligned operator platform. AI Initiative of the Year: Mo
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