Tue, 24 Jun 2025 | BUSINESS SALE
Marco Capital Holdings Limited has acquired UK-based legacy insurance vehicle R&Q Gamma Company Limited. The deal continues the expansion that Marco Capital has undergone since it was launched five years ago.
R&Q Gamma was originally known as The Royal London General Insurance Company Limited. The firm entered run-off in 1999 before being acquired by R&Q Insurance Holdings Ltd in 2016 in order to serve as a platform for the consolidation of UK run-off portfolios.
From 2016 to 2020, the vehicle engaged in loss portfolio transfers involving Anglo French Insurance Company Limited, the Solicitors Indemnity Mutual Insurance Association Limited and The United Kingdom Mutual Steam Ship Association Limited, widely known as the UK P&I Club.
The firm’s remaining liabilities largely relate to the UK P&I Club and to Occupational Disease and Workers’ Compensation claims covering maritime and port workers.
Marco Capital CEO Simon Minshall commented: “This is now the third time Marco has provided assistance in stabilising and securing R&Q policyholders’ interests, following the acquisition of Inceptum, an R&Q subsidiary in run-off, and management of R&Q Syndicate 1110 by Polo Managing Agency in 2024.”
Polo Managing Agency is an entity owned by Marco Capital that plays a pivotal role in the firm’s operations in the Lloyd’s market. Polo Managing Agency manages syndicates, including Syndicate 1254, as well as providing turnkey and outsourced services to both legacy portfolios and active underwriters.
The firm provides functions including compliance, finance, claims handling, underwriting and actuarial services and has more than 250 personnel. Its capabilities support Marco Capital to assume and administer complex run-off liabilities across multiple jurisdictions.
Marco Capital was launched in 2020 with the support of €500 million in equity from funds managed by Oaktree Capital Management. Since then, the company has significantly expanded its footprint and built reserves in excess of €700 million linked to discontinued or run-off portfolios.
Find out more about the shifting dealmaking environment in the UK's insurance industry
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