Last Updated on Thursday, 10 June, 2021 at 11:07 am by Andre Camilleri
Marco Capital Holdings Limited (“Marco”) – European P&C insurance run-off group – today announced that it has purchased VA Insurance Services Limited (“VAISL”), an Isle of Man based Captive non-life insurance company, from Thomas Cook Group Treasury Limited (in liquidation).
The transaction has received regulatory approval from the Isle of Man Financial Services Authority and has now completed.
“I am pleased to announce the acquisition of VAISL – Marco’s first acquisition of a Captive. While the P&C Legacy sector has recently seen a shift of activity towards capital relief based transaction, providing strategic solutions is a fundamental service Marco offers and is a core pillar in Marco’s strategy,” said Simon Minshall, CEO of Marco.