Legacy Consolidator Marco Capital to Buy Insurance Services Firm Pro Global

Marco Capital, the property/casualty legacy consolidator and parent of insurance services group PoloWorks, has entered into an agreement to acquire Pro Global, subject to regulatory approval.

Financial details of the deal were not disclosed.

The acquisition represents a significant milestone in its strategy to build an integrated legacy insurance and market-leading insurance services group – with an expanded global client offering and truly diversified income stream, Marco Capital said in a statement.

Following completion, PoloWorks and Pro Global (which is also an insurance services advisory) will combine to create one of the industry’s largest specialist insurance services businesses across Lloyd’s, the London market and international insurance markets, the company said.

The new business will have a stronger client offering, combining complementary expertise and platforms, broader international reach, and enhanced operational capability, Marco Capital said, noting that the merged organization will operate via a network of 15 offices and approximately 1,400 employees across the UK, Europe, North America, Latin America, and Australasia.

The businesses (PoloWorks and Pro Global) are highly complementary and bring together a broader range of regulated platforms, specialist expertise, and geographic reach.

Clients of Polo Managing Agency (a Lloyd’s turnkey business), Polo Insurance Managers (an insurance manager that offers solutions for captive, commercial, and insurance-linked securities clients), and Pro MGA (which supports managing general agents) will benefit from augmented service quality and choice, enabling customers to concentrate on their growth and value strategies, the company continued.

“Since acquiring PoloWorks in 2022, Marco Capital re-engineered the business through new marketing initiatives, competitive customer propositions, leveraging Marco’s industry relationships and, in 2023, appointing new PoloWorks leadership,” commented Simon Minshall, group CEO of Malta-based Marco Capital Group, in a press statement.

“Polo Managing Agency is an early success story, and Marco continues to build PoloWorks into an even stronger, more ambitious, and well diversified insurance services business – an essential component of Marco Capital’s ecosystem,” Minshall added.

“Pro Global is an exceptional strategic fit for PoloWorks. Importantly, this is not simply an acquisition of services capability – it accelerates our growth strategy and expands what we can offer clients across a wider range of markets and services,” said Paul Andrews, CEO of PoloWorks.

“This marks an exciting new chapter for Pro Global. We have built a fantastic business with exceptional people and strong client relationships, and joining PoloWorks gives us an opportunity to build on those strengths,” said Steve Lewis, CEO of London-based Pro Global.

The combined organization will:

• Operate from 15 offices across the UK, Europe, North America, Latin America & Australia;
• Provide access to regulated platform solutions across Lloyd’s syndicates, MGAs, captives, and other specialist insurance structures – including Marco Capital’s Legacy solutions;
• Deliver enhanced capabilities spanning underwriting support, delegated authority, claims, client finance, insurance management, finance, and treasury services;
• Increase capacity for investment in technology, automation, AI, and innovation;
• Strengthen support for clients operating across Lloyd’s, the London market, and international insurance markets, and
• Create a more scalable and diversified platform for future organic and acquisition growth.

Source: Marco Capital