European P&C insurance run-off group Marco Capital Holdings has purchased Humboldt Re Limited, a Guernsey based reinsurance company.
Humboldt is one of Credit Suisse’s reinsurers, set up to underwrite for its ILS funds and other investors
The deal is reported to have already received regulatory approval from the Guernsey Financial Services Commission and can be considered completed.
This is Marco’s third transaction within nine months and is expected to significantly increase its balance sheet size.
“I am delighted to announce the acquisition of Humboldt Re,” said Simon Minshall, CEO of Marco.
“Clients engage in run-off transactions for a variety of reasons – providing customized strategic solutions is a fundamental service Marco offers and is a core pillar in Marco’s strategy.
“This transaction demonstrates our structuring capabilities and key proposition in offering the best solution for our clients”.
