Marco Capital has received High Court approval to transfer the risks held in Inceptum Insurance Company Limited to its UK legacy platform, British Reserve Insurance Company Ltd, under Part VII of the Financial Services and Markets Act 2000, the company announced on Tuesday.
“The Part VII transfer of liabilities from Inceptum to Marco Capital’s UK legacy platform, British Reserve Insurance Company Ltd, marks an important milestone in the development of our European business,” said Simon Minshall, chief executive officer of Marco Capital. “The transaction enhances operational and capital efficiency and provides policyholders with the security of a well-capitalised, long-term specialist platform. It reflects Marco’s continued focus on delivering high-quality legacy solutions to its clients.”
