Marco Capital acquires R&Q Gamma, marking third transaction with parent
European P&C insurance run-off group Marco Capital has acquired R&Q Gamma Company Limited, subject to regulatory approval.
Marco Capital explained that R&Q Gamma, formerly The Royal London General Insurance Company Ltd, was established in 1983 and put into run-off in 1999.
It was purchased by R&Q Insurance Holdings Ltd in 2016 to act as a consolidation vehicle for run-off opportunities in the UK.
“Over the following 4 years, R&Q Gamma transacted Loss Portfolio Transfers with the Solicitors Indemnity Mutual Insurance Association Ltd, Anglo French Insurance Company Ltd and The United Kingdom Mutual Steam Ship Association Ltd (UK P&I Club),” Marco Capital said.
R&Q Gamma’s outstanding liabilities reportedly predominantly relate to the UK P&I Club and comprise Occupational Disease / Workers’ Compensation liabilities relating to workers on ships and in ports.
Simon Minshall, Marco Capital CEO, commented, “This is now the third time Marco has provided assistance in stabilising and securing R&Q policyholders’ interests, following the acquisition of Inceptum, an R&Q subsidiary in run-off, and management of R&Q Syndicate 1110 by Polo Managing Agency in 2024.”
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