Marco Capital Holdings Limited has announced the acquisition of R&Q Gamma Company Limited, a UK-based legacy insurance entity, further strengthening its position in the European run-off market.
R&Q Gamma, formerly operating as The Royal London General Insurance Company Ltd, entered run-off in 1999 and was later acquired by R&Q Insurance Holdings Ltd in 2016. It has since served as a consolidation platform for UK-based run-off portfolios.
Between 2016 and 2020, R&Q Gamma executed a series of loss portfolio transfers involving the Solicitors Indemnity Mutual Insurance Association Ltd, Anglo French Insurance Company Ltd, and the UK P&I Club (The United Kingdom Mutual Steam Ship Association Ltd). Its remaining liabilities predominantly relate to occupational disease and workers’ compensation claims tied to the UK P&I Club, specifically involving maritime and port workers.
Since its inception in 2020, Marco Capital has been actively building a presence across the European legacy insurance landscape, supported by €500 million in equity commitments from funds managed by Oaktree Capital Management. The firm has since accumulated more than €700 million in reserves associated with discontinued insurance portfolios.
Expanding Operational Capabilities
Polo Managing Agency, a Marco-owned operation, anchors the firm’s activities within the Lloyd’s market. Managing Syndicate 1254 and providing turnkey and outsourced solutions for both legacy and active underwriters, Polo plays a pivotal role in servicing complex insurance portfolios. The group employs over 250 professionals spanning claims, compliance, finance, actuarial, and underwriting functions, ensuring robust support for cross-border run-off transactions.
In 2023, Marco streamlined its reinsurance operations by consolidating its two Guernsey-based entities—Humboldt Re and Kelvin Re—into a unified reinsurer, Marco Re. This strategic integration was designed to enhance operational efficiency and improve service delivery across its discontinued business lines.
The acquisition of R&Q Gamma marks another key milestone in Marco Capital’s growth strategy as it continues to expand its footprint in the legacy insurance space across the UK and Europe.
