European P&C re/insurance run-off group Marco Capital said it has completed its acquisition of Benteler Reinsurance Company DAC (Benteler Re), a Dublin-based non-life captive in run-off, from Austria-headquartered Benteler Group.
The company said the deal received required regulatory approvals and has closed.
Simon Minshall (pictured above), Marco’s CEO, said, “The acquisition of the Benteler Re provides Benteler Group an efficient means to manage its group insurance arrangements.”
Minshall also said, “Marco excels at providing corporates with Captive solutions, in particular by investing in professional risk and operational management to minimize tail exposure in the market. This transaction serves as a good example of the value added we offer our clients”.
Benteler Re was established in Ireland in January 2003 and operates as a captive reinsurance company. It is wholly owned by Benteler Group, which the companies described as a global supplier with about 90 locations worldwide.
Benteler Group was founded in 1876 and serves the automotive, industrial and energy sectors. Marco did not disclose financial terms of the transaction.
The Benteler Re closing follows other 2025 run-off activity by Marco, including the completed acquisition of R&Q Gamma Company Ltd., a UK-based non-life insurer in run-off, which the company described as adding legacy liabilities tied to maritime and port worker claims originating from the UK P&I Club.
Marco has said R&Q Gamma’s remaining obligations were primarily linked to occupational disease and workers’ compensation claims, reflecting the long-tail exposure management that typically drives transactions in the legacy market.
Marco’s portfolio includes PoloWorks, an insurance outsourced services provider employing more than 375 insurance specialists in the UK Marco said PoloWorks delivers services through subsidiaries including Polo Commercial Insurance Services, Polo Managing Agency, Polo Insurance Managers and PoloPartners.
In parallel with its acquisition activity, Marco’s Bermuda-based reinsurance platform, Marco Re Ltd., retained an A- (Excellent) Financial Strength Rating and “a-” Long-Term Issuer Credit Rating from AM Best in March.
