European P&C Run-off specialist Marco has said that Stefan Habereder is join the firm as group chief actuary at the beginning of August.
Habereder is joining a firm that received RITC Syndicate 1254 permission in February to write business. Back then, Marco Capital was granted ‘in principle’ approval to launch a reinsurance-to-close (RITC)/run-off syndicate at Lloyd’s in October 2021. In the same month, the firm completed a Reinsurance to Close (RITC) transaction with Verto Syndicate.
Habereder is moving to the firm after leaving Allianz in May, where he was head of global lines and reinsurance business strategy executive. He also spent nearly fifteen years at AXIS Capital, where he worked in a number of roles, including chief actuary, chief risk officer, and head of portfolio analytics and strategic services for AXIS Re.
Simon Minshall, CEO of Marco, said “We are delighted to welcome Stefan to Marco at this crucial stage in the development of our business. Our core leadership is a small and senior team of highly experienced professionals and Stefan will lead our Group Actuarial team as well as leading on our outsourced actuarial resources.”
He added: “With a wide and solid base of experience across pricing, reserving, risk management and many other vital disciplines typical of a chief actuary, Stefan’s arrival will bring a valuable contribution to Marco’s in-house technical capabilities.”
Last year, Marco expanded its headcount to more than 300 insurance specialists via the acquisition of Capita plc’s insurance businesses, Capita Commercial Insurance Services (CCIS) and Capita Managing Agency (CMA).
Launched in August of last year and headquartered in Malta, Marco is a provider of reinsurance and finality solutions to insurance and reinsurance carriers.
Since its establishment with €500m in committed initial equity capital, the company has completed a number of transactions, including the purchase of the British Reserve Insurance Company Ltd (BRIC) from Allianz, and a legacy transfer deal with the same company.
