Reinsurance News

Allianz in P&C legacy transfer deal with Marco

13th October 2021 - Author: Matt Sheehan

Allianz has entered into a deal with European P&C insurance run-off group Marco Capital Holdings Limited concerning the transfer of the remaining risks in Allianz Suisse’s UK Branch.

handshakeThe risks in Allianz Suisse’s UK Branch were underwritten by R.W. Gibbon and are therefore known as “The Gibbon Pool”.

“I am pleased to announce this important transaction which provides a risk and operational solution for Allianz,” said Simon Minshall, Chief Executive Officer (CEO) of Marco.

“Marco offers solutions to P&C re/insurance carriers which may have a risk, capital and/or operational dimension – we seek to provide a valuable service to our clients.”

Malta-headquartered Marco launched last year with €500 million in committed initial equity capital, led by Minshall, who is the ex-Chief Financial Officer of legacy acquirer DARAG, and Jonathan Walker, a former Merrill Lynch and Baring Brothers re/insurance M&A investment banker.

AmericanAg - Global Reinsurance Solutions

The company’s strategy involves acquiring portfolios of non-life insurance loss reserves, through reinsurance structures – loss portfolio transfers (LPT), adverse development cover (ADC), Part VII Transfer or through purchasing entities.

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