Marco Capital’s RITC Syndicate 1254, a specialised Lloyd’s syndicate that provides Reinsurance to Close (RITC) and legacy run-off solutions for P&C insurance portfolios, has replaced Coaction Global, Inc. as the reinsurer for R&Q’s Syndicate 1110, which was placed into run-off in July 2024.
Polo Managing Agency, a wholly owned subsidiary of Marco Capital, took over the management of Syndicate 1110 by novation in August 2024, one of Marco Capital’s numerous transactions with the collapsed R&Q Group.
Today, Marco Capital, a specialist insurance group and legacy provider headquartered in Malta, has revealed that its RITC Syndicate 1254 has signed a reinsurance agreement with Syndicate 1110 to replace an existing reinsurance cover underwritten by Coaction Global.
This means that Coaction Global, a US specialty P&C insurance holding company, is released from exposure to the relevant R&Q portfolio.
“Marco Capital has yet again provided a market solution to the risk and complexity resulting from the administration of R&Q Group. We specialise in providing bespoke legacy and run-off solutions for complex insurance liabilities and are committed to providing risk transfer, long-term capital and expertise to the market,” said Simon Minshall, Marco CEO.
Marco emphasises that this deal is consistent with its strategy of providing specialist legacy and run-off solutions for complex insurance and reinsurance portfolios.
The company continues to grow its presence in the global legacy market, while at the same time supporting counterparties seeking finality and capital certainty.
