Marco Capital, a European property and casualty insurance run-off group, has reached an agreement to acquire R&Q Gamma Company.  

The financial terms of the deal have not been disclosed.  

R&Q Gamma, initially known as the Royal London General Insurance Company, was established in 1983 and entered run-off in 1999.  

R&Q Insurance acquired the company in 2016, aiming to consolidate run-off opportunities within the UK insurance market. 

Over a four-year period, R&Q Gamma has engaged in loss portfolio transfers with several entities including the Solicitors Indemnity Mutual Insurance Association, Anglo French Insurance Company and the United Kingdom Mutual Steam Ship Association, commonly referred to as the UK P&I Club. 

The liabilities of R&Q Gamma are predominantly connected to the UK P&I Club, encompassing occupational disease/workers’ compensation liabilities for individuals working on ships and in ports. 

Marco CEO Simon Minshall said: “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.” 

In November last year, Marco Capital completed the purchase of Inceptum Insurance Company, another UK non-life insurance company in run-off, from R&Q Insurance for a cash sum of £11.25m ($15.06m).  

The transaction is reported to have improved R&Q’s liquidity by approximately £13m.  

R&Q, which operates within the non-life insurance sector, acquired Inceptum in 2020. 

Marco Capital, with its headquarters in Malta, maintains four carrier platforms that serve key markets: Marco Re for international coverage, British Reserve Insurance Company for the UK, Syndicate 1254 at Lloyd’s for reinsurance to close/run-off and Marco Insurance PCC in Malta for the EU market.  

The group also owns PoloWorks and Turnkey Managing Agency, which provide outsourced insurance services for the Lloyd’s and London Market.