Marco Capital has agreed to acquire Stewart Title Europe Limited, a property title insurer that has been in run-off since the start of 2025. The transaction is subject to regulatory approval, the European P&C run-off group said.
Marco CEO Simon Minshall (pictured above) said the deal fits the company’s strategy of taking over portfolios and entities that no longer align with their owners’ plans.
“The acquisition of Stewart Title Europe Limited enables Marco Capital to deliver a practical solution by acquiring businesses that are no longer required by their owners,” he said.
Minshall added that the transaction “highlights our commitment to creating value and providing the efficient service we bring to our clients.” Terms of the sale were not disclosed.
The Stewart Title Europe acquisition follows other 2025 run-off activity for Marco, including the completed purchase of R&Q Gamma Company Limited, a UK-based non-life insurer in run-off. That deal transferred legacy maritime and port worker claims from Randall & Quilter II Holdings.
Marco has also agreed to acquire Benteler Reinsurance Company DAC in Ireland, a transaction framed as helping a multinational group simplify its corporate structure. In commentary on that deal, the group has emphasized its willingness to acquire entities that are no longer core to their parents’ strategies, supported by US$550 million in committed equity capital and earlier disclosures of €500 million in equity backing from Oaktree Capital Management.
Marco owns PoloWorks, an insurance outsourced services provider employing more than 400 onshore insurance specialists in the UK. Polo currently provides outsourced services to about 40% of Lloyd’s and London Market operators, including new Lloyd’s entrants, MGAs and established insurance carriers.
The latest transaction comes against a backdrop of a growing global run-off market, with PwC’s Global Insurance Run-Off Survey 2025 estimating worldwide non-life reserves in run-off at US$1.129 trillion, up 11% since the previous survey.
The report notes 33 transactions in 2024 transferring US$6.6 billion of liabilities and a further 25 deals announced in the first eight months of 2025, pointing to continued use of legacy solutions by carriers seeking to manage long-tail exposures and capital demands.
