UK arm of run-off specialist Marco Capital takes on ‘The Gibbon Pool’
British Reserve Insurance Company, the UK carrier of European P&C insurance run-off group Marco Capital Holdings, has agreed a transaction with Allianz concerning the transfer of the remaining risks in Allianz Suisse’s UK Branch (underwritten by Mr R.W. Gibbon and known as ‘The Gibbon Pool’).
Simon Minshall, CEO of Marco, said: “I am pleased to announce this important transaction which provides a risk and operational solution for Allianz. Marco offers solutions to P&C re/insurance carriers which may have a risk, capital and/or operational dimension - we seek to provide a valuable service to our clients”.
Marco is a European P&C Legacy solutions insurance group headquartered in Malta. The group comprises the carriers Marco Insurance PCC in Malta, a Protected Cell Company, British Reserve Insurance Company in the UK and VAISL in the Isle of Man. It is supported by €500 million initial committed equity capital and offers a leading proposition to carriers seeking finality and balance sheet optimisation solutions in the European P&C arena.
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