Marco Capital continues M&A push with Benteler captive purchase

Marco Capital Holdings has agreed to acquire Benteler Reinsurance Company DAC, the Irish captive reinsurance vehicle of the Benteler Group, in a transaction that underlines the growing appetite among corporates for legacy solutions that provide finality. The deal remains subject to regulatory approval.

Jonathan Walker (pictured), managing director, head of origination at Marco, told Captive International  the acquisition reflected a broader trend of corporates increasingly turning to M&A as a strategic tool. “In 2025, Marco has focused on assisting its clients with exiting insurance carriers no longer required. While we remain dedicated to providing capital relief and risk transfer solutions, M&A delivers finality. 

“In some conservative markets, legacy solutions have historically suffered the stigma of association with ‘failure’ or ‘financial weakness’. These days, those descriptions couldn’t be further from the truth. Many leading, international insurance groups are repeat Legacy transactors as this offers CFOs and Risk Managers additional tools to achieve their objectives,” he said.

Benteler Re, incorporated in Ireland in 2003, is wholly owned by the Benteler Group. Founded in 1876, the group is a Tier 1 global supplier to the automotive, industrial and energy sectors, with operations spanning around 90 locations worldwide.

Simon Minshall, Marco’s CEO, said the deal was a good example of how legacy specialists can deliver tangible value to corporates. “The acquisition of Benteler Re provides a useful solution to the Benteler Group in rationalising its group insurance arrangements. Marco welcomes the opportunity to acquire entities that are no longer seen as core for the business and this transaction serves as a good example of the value added we offer our clients,” he said.

The company also owns PoloWorks, an outsourced services business employing more than 375 specialists and supporting around 40% of Lloyd’s and London market operators.

The Benteler deal is Marco’s latest step in expanding its presence in the legacy market. In June this year, it also completed the acquisition of R&Q Gamma.

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