New CEO for entity additionally introduced
Marco Capital Holdings Restricted has introduced the launch of Marco Re, a merger of its Guernsey subsidiaries Humboldt Re and Kelvin Re.
The consolidation positions Marco Re as Marco Capital’s main worldwide property and casualty (P&C) reinsurance platform for legacy enterprise. The merger, which acquired approval from the Guernsey Monetary Providers Fee, goals to leverage economies of scale and improve service choices within the P&C legacy sector.
Humboldt Re and Kelvin Re have been initially shaped and managed below Credit score Suisse ILS. Mark Elliott, beforehand main the administration of the person entities, continues as CEO of the newly shaped entity.
“We’re delighted to have effectively introduced collectively two ‘sister’ reinsurance corporations in run-off and are excited that Marco Re presents its shoppers aggressive reinsurance options for worldwide P&C legacy conditions,” Elliott mentioned.
The agency operates inside the European P&C legacy options market, with a strategic concentrate on buying non-core and discontinued enterprise portfolios to optimize steadiness sheets and handle operational dangers for re/insurance coverage carriers.
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