Marco Capital has completed its acquisition of R&Q Gamma Company Limited, the UK-based non-life insurance company in run-off.
The deal was finalized following receipt of all necessary regulatory approvals. R&Q Gamma was acquired from Randall & Quilter II Holdings Ltd, which is currently in administration, with Teneo Financial Advisory acting on behalf of the joint administrators.
The acquisition brings additional legacy liabilities to Marco’s portfolio, particularly those tied to maritime and port worker claims originating from the UK P&I Club. R&Q Gamma’s remaining obligations are primarily linked to Occupational Disease and Workers’ Compensation claims.
R&Q Gamma, originally known as The Royal London General Insurance Company Ltd, entered run-off in 1999. The entity was acquired by R&Q Insurance Holdings Ltd in 2016 to serve as a consolidation platform for UK run-off portfolios, and has since engaged in several loss portfolio transfers involving other insurance associations and companies.
Marco CEO Simon Minshall commented on the transaction, saying, “Marco has now, for the third time, provided assistance in securing R&Q policyholders’ interests.” He added that the company aims to deliver solutions for clients, “whether through finality (M&A) or reinsurance (for capital relief or risk transfer).”
Since its launch in 2020, Marco Capital has been actively expanding in the European legacy insurance market, supported by €500 million in equity from Oaktree Capital Management. This backing has enabled Marco to pursue a series of acquisitions and strategic moves in the sector.
As a result of these efforts, Marco has accumulated more than €700 million in reserves tied to discontinued or run-off portfolios, further establishing its presence as a consolidator in the legacy insurance space.
Marco Capital offers services to carriers seeking finality and balance sheet optimization solutions. Its subsidiary, Polo, provides outsourced insurance services to 40% of Lloyd’s and London Market operators, including new entrants, managing general agents, and established insurance clients.
The majority investors in Marco are funds managed or advised by Oaktree Capital Management, L.P., which has US$218 billion in assets under management.
