Markel Insurance has officially completed its acquisition of The MECO Group Limited (MECO), a specialist marine managing general agent, following receipt of all necessary regulatory approvals.
Founded in 1974 as Michael Else and Company Ltd., MECO brings over five decades of expertise in the marine insurance industry. The company has built a strong reputation for underwriting excellence and high-quality client service, particularly in the charterers protection and indemnity (P&I) space.
MECO operates under three primary brands—The Charterers P&I Club, Transmarine, and Aurora P&I—delivering tailored insurance solutions across a broad spectrum of marine risks. The firm also extends its capabilities through True North, an affiliated law practice that provides complementary legal services to its clients.
The company’s underwriting portfolio includes charterers P&I, freight, defence and demurrage, trade disruption, loss of hire, strikes delay, small vessel owners’ P&I, and contractual extension liabilities. These services support a diverse, global client base involved in maritime commerce and operations.
In 2024, MECO reported gross written premiums totaling US$63 million, underscoring the scale and reach of its operations. The firm maintains a global footprint with offices in London, Dubai, Shanghai, and Hamburg.
Under the new structure, MECO will operate as MECO Specialty, integrated into Markel International’s wholesale specialty division. The unit will be led by Tom Hillier, Managing Director of Specialty at Markel International.
“MECO is a respected name in the marine sector, known for its professionalism, operational strength, and established distribution in key markets where Markel is actively growing,” said Hillier. “We’re excited about the opportunities this acquisition presents.”
Chris Else, Chief Executive of MECO, described the transaction as a milestone moment in the company’s ongoing growth and development.
The acquisition follows a major restructuring within Markel’s broader operations. In a strategic move, Markel has recently reorganized its US and Bermuda platforms—formerly under the Markel Specialty brand—into two newly defined divisions, aligning with its growth and operational goals.
