Business Wire

Marco Launches With €500m Committed Initial Equity Capital to Focus on European Property & Casualty Run-off Opportunities

Share

Marco Capital Holdings Limited (“Marco”) has launched in Europe’s P&C run-off market. Based in Malta, Marco will pursue run-off opportunities located in/emanating from the Continental Europe, the UK and Lloyd’s of London.

Founded and led by Simon Minshall, ex-Chief Financial Officer of run-off carrier DARAG and previously Deputy Group CFO at Endurance, and Jonathan Walker, former Merrill Lynch and Baring Brothers re/insurance M&A investment banker who leads Marco’s Origination initiative, Marco enters the European run-off arena with a highly experienced executive team (to be announced on joining), an eminent Board and substantial capital resources provided by majority investor Oaktree and Marco’s management.

Minshall commented that “Marco joins the European run-off arena at an auspicious moment - when the need to resolve legacy and facilitate capital management has been exacerbated by the extraordinary conditions insurers face in 2020 - on both sides of the balance sheet. Marco seeks to provide a professional, well capitalised counterparty for insurers and reinsurers seeking run-off and other solutions”.

Dieter Wemmer, Marco Chairman, remarked “as a former seller of reserves to run-off companies, I appreciate the need for highly professional and well capitalised counterparties. The dynamics of the P&C industry beyond 2020’s challenges include the coming impact of InsurTech which will affect traditional business models and increase demand for efficient capital management solutions. Marco will position itself as a market with professionalism, integrity and sufficient capital to serve this demand”.

Marco’s Insurance Company Board (iNEDs) will comprise -

  • Chairman: Dieter Wemmer - ex-Group CFO Allianz SE, prior Group CFO Zurich. Currently UBS Board;
  • Rolf Tolle - Lloyd’s first Franchise Board Director, currently QBE Board;
  • Monika Sebold-Bender - former ERGO Group Management Board responsible for P&C, prior Management Board Member at Generali Deutschland, senior positions at Allianz SE and AXA Germany. Currently MS Amlin Europe Board;
  • Juanita Bencini - former KPMG Partner specialising in Risk. Currently serving on Boards of several insurers and a bank in Malta.

Marco strategy is to focus on P&C Run-Off business opportunities located in/emanating from Continental Europe, the UK and Lloyd’s of London by acquiring portfolios of non-life insurance loss reserves, through reinsurance structures - loss portfolio transfers (LPT), adverse development cover (ADC), Part VII Transfer or through purchasing entities.

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.Oaktree is Marco’s majority investor.

Contact information

Press
Jonathan Walker
+44 777 184 4367
jwalker@marcocapital.net

About Business Wire

Business Wire
Business Wire



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

Topcon Announces eyeRISE 2021 Virtual Symposia & Expo18.1.2021 07:00:00 CETPress release

Topcon Healthcare, a leading provider of medical devices and software solutions for the global eye care community, announced today that it will host a two-day virtual symposia and expo entitled eyeRISE on February 9-10, 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210117005025/en/ eyeRISE, or Eye Research Innovation Symposia & Expo, is a new, multi-disciplinary virtual congress showcasing the latest innovations in eye care. It will feature three solutions-focused tracks, delivering clinical and practical education through symposia, roundtable discussions and interactive workshops. (Graphic: Business Wire) eyeRISE, or Eye Research Innovation Symposia & Expo, is a new, multi-disciplinary virtual congress showcasing the latest innovations in eye care. It will feature three solutions-focused tracks, delivering clinical and practical education through symposia, roundtable discussions and interactive workshops. The two-day

Servier announce updated overall survival results of exploratory TASCO1 phase II study of LONSURF ® + bevacizumab in a first-line setting for patients with unresectable mCRC non-eligible for intensive therapy16.1.2021 22:15:00 CETPress release

Servier announced today updated results from the exploratory phase II TASCO1 study evaluating LONSURF® (trifluridine/tipiracil) + bevacizumab and capecitabine + bevacizumab (C-B) in a first-line setting for patients with unresectable metastatic colorectal cancer (mCRC) who are non-eligible for intensive therapy.1 The data were announced today during an oral presentation at the 2021 ASCO Gastrointestinal Cancers Symposium (ASCO-GI). Patients with mCRC who are not eligible for chemotherapy face a large unmet need, with fewer treatment options available to them and lower survival rates. Colorectal cancer (CRC) makes up 9.7% of total global cancer cases, with almost 1.4 million new cases of CRC each year.2 In Europe, CRC is the second most common cause of death due to cancer, and those with a metastatic disease have a 5-year survival rate of just 11%.3 “For patients with metastatic colorectal cancer, those non-eligible for standard combination therapy have few options left and we are conti

H.I.G. Realty Invests in Production Studios & Content Hub in Madrid15.1.2021 09:00:00 CETPress release

H.I.G. Capital, LLC ("H.I.G."), a leading global alternative investment firm with $43 billion of equity capital under management, announced today that one of its affiliates has invested in Madrid Content City, an approximately 140,000 square meter hub with state of the art audio-visual facilities, including production studios, production & post-production technical facilities, and a university focused on media studies. H.I.G. continues to add to its sizeable portfolio of real estate assets across Europe, consisting of both equity as well as debt investments, with a particular focus on its target market of value-added small and midcap opportunities. Riccardo Dallolio, Managing Director and Head of H.I.G. Europe Realty Partners, commented: “Madrid Content City will benefit from strong secular tailwinds underpinned by the boom in content production. The state-of-the-art studios and related facilities, the exceptional multinational tenant line-up with long term leases, and its critical mas

Eurofins, the global leader in analytical testing, expands worldwide face mask testing & certification capabilities15.1.2021 07:30:00 CETPress release

Since the start of the pandemic Eurofins (Paris:ERF) has tested thousands of models of surgical and hygienic masks and provided best-in-class speed and certification for PPEs globally, enabling these critical products to get market as fast as possible. Eurofins has developed global leading testing capabilities and certification services in the North America, Europe and Asia ensuring that PPE manufacturers are able to provide the indispensable support needed in the fight against the coronavirus. As of today, Eurofins is one of the few GLP certified and ISO/IEC 17025 accredited laboratory networks to fully cover all testing requirements for surgical/medical and hygienic masks by the FDA, EU regulations and many international and country-specific directives and guidelines such as CEN, CE Marking, ISO, ASTM or OECD. Our robust portfolio for masks includes globally accepted, safety and performance testing, virucidal, bacterial filtration, particle filtration, differential pressure, biocompa

TOXINS 2021: New analyses of pivotal Phase III trial data highlight long duration of response for Dysport ® (abobotulinumtoxinA) in five therapeutic indications15.1.2021 07:00:00 CETPress release

Regulatory News: Ipsen (Euronext: IPN; ADR: IPSEY) announced results from new analyses of pivotal Phase III clinical trial data to assess treatment intervals over repeat cycles of Dysport® (abobotulinumtoxinA [aboBoNT-A]) in five patient populations. AbobotulinumtoxinA: Evidence for Long Duration of Response from 5 Patient Populations is being shared during the TOXINS 2021 conference, which is taking place virtually between 16-17 January 2020 and is organized by the International Neurotoxin Association.1-28 Ipsen is sharing 26 abstracts during the congress, with data including updates from the recently published surveys into the experience of patients and caregivers, data from the Phase IV ULIS-III trial, and ten abstracts focused on basic science research into neurotoxins.1-27 Spasticity is one of the most common and disabling conditions associated with many neurological conditions in adults and is characterized by velocity-dependent muscle hypertonia. Spasticity can lead to disabilit

Velodyne Lidar Commends NHTSA Plan to Update NCAP14.1.2021 21:58:00 CETPress release

Velodyne Lidar, Inc. (Nasdaq: VLDR, VLDRW) today commended the U.S. Department of Transportation’s National Highway Traffic Safety Administration (NHTSA) plan to update to its New Car Assessment Program (NCAP). The NHTSA proposal would add four advanced driver assistance system (ADAS) capabilities to the NCAP, keeping pace with evolving safety technologies and providing much-needed information to consumers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210114005992/en/ Images show vehicle with lidar-based PAEB stopping before adult target @ 50% overlap (above) and vehicle with camera and radar-based PAEB crashing into adult target (below). (Photo: Velodyne Lidar, Inc.) NCAP is the U.S. Government’s premier consumer information program for evaluating vehicle safety performance. The NHTSA proposal to add ADAS technologies to the NCAP includes pedestrian automatic emergency braking, lane keeping support, blind spot warning and

Snow Software Recognized as a 2020 Gartner Peer Insights Customers’ Choice for Software Asset Management14.1.2021 20:39:00 CETPress release

Snow Software, the global leader in technology intelligence, today announced that the company was named a December 2020 Gartner Peer Insights Customers’ Choice for Software Asset Management (SAM) Tools. Gartner defines software asset management tools as technology that “automates many of the tasks required to maintain compliance with software licenses, thereby controlling software spending.” This is the fourth Gartner Peer Insights Customers’ Choice announcement for SAM, and Snow has earned the distinction all four times. Based solely on feedback from verified customers, Gartner Peer Insights Customers’ Choice reflects reviews and ratings published within the last 12 months. Snow received 100 reviews – the most of any vendor in the market – with an overall rating of 4.6 out of 5 as of January 12, 2021. Earlier this year, Snow was recognized as a Leader in Gartner’s 2020 Magic Quadrant for Software Asset Management Tools1 and received the highest scores in three out of four use cases in

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