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Marco Capital to acquire Pro Global in reinsurance and services expansion
The deal, subject to regulatory approval, would combine the businesses into a group operating through 15 offices and about 1,400 employees.
Marco Capital, the P&C legacy consolidator and parent of insurance services group PoloWorks, has agreed to acquire Pro Global, with the companies set to combine after completion.
The acquisition is intended to create one of the industry’s largest specialist insurance services businesses across Lloyd’s, the London Market, and international insurance markets, expanding scale and investment in technology and digital innovation, according to Reinsurance News.
Marco Capital said the Pro Global purchase represents a milestone in its strategy to build an integrated legacy insurance and market-leading insurance services group, with an expanded global client offering and a diversified income stream. The new organisation is reportedly expected to operate through a network of 15 offices and approximately 1,400 employees across the UK, Europe, North America, Latin America, and Australasia.
The company added that clients of Polo Managing Agency, Polo Insurance Managers, and Pro MGA would benefit from an expanded set of regulated platforms, specialist expertise, and geographic reach, while the acquisition remains subject to regulatory approval.