Marco Capital Holdings Limited, a European group specialising in the acquisition and management of property and casualty (P&C) insurance run-off portfolios and companies, has finalised the purchase of R&Q Gamma Company Limited.
R&Q Gamma, a UK-based non-life insurer in run-off, was previously owned by Randall & Quilter II Holdings Ltd (in administration) and managed by its joint administrators at Teneo Financial Advisory Limited. The transaction has received all necessary regulatory approvals and is now complete.
This closing follows Marco’s initial announcement earlier this year, when it confirmed its intention to acquire R&Q Gamma, formerly The Royal London General Insurance Company Ltd, subject to regulatory approval.
At that time, Marco outlined the company’s background, noting its role as a consolidation vehicle for UK run-off opportunities and its historical transactions involving the UK P&I Club and other insurers.
Simon Minshall, Marco CEO, said: “Marco has now, for the third time, provided assistance in securing R&Q policyholders’ interests. We endeavour to provide our clients with worthwhile and valuable solutions, whether through finality (M&A) or reinsurance (for capital relief or risk transfer).”
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