Marco Capital closes RITC transaction for Coverys Syndicate 1975
- May 23, 2025
- Posted by: Kassandra Jimenez-Sanchez
- Category: Insurance
European P&C insurance run-off group Marco Capital Holdings Limited has completed a Reinsurance to Close (RITC) transaction with Coverys Syndicate 1975.
Effective January 1, 2025, the RITC covers Syndicate 1975’s 2022 and prior years of account. The reinsurance is underwritten by Marco’s dedicated RITC Syndicate 1254, which is managed by Polo Managing Agency (PMA).
The transaction has received approval from Lloyd’s and is now complete.
Simon Minshall, Marco CEO, commented: “Marco’s unique structure at Lloyd’s combines our turnkey Managing Agency PMA with our RITC Syndicate 1254 and this has enabled a frictionless exit for Coverys from Lloyd’s on an attractive economic and operational basis.
“This transaction shows Marco Capital Group’s leading market role in helping clients execute their strategic plans within Lloyd’s.
“Marco specialises in complex situations, and we are pleased to be of assistance to Coverys in facilitating their strategic realignment. Marco is dedicated to providing a full range of run-off solutions to Lloyd’s syndicates.”
This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.
