Cains’ Corporate and Commercial team has recently advised Marco Capital on its acquisition of VA Insurance Services Limited, an Isle of Man based captive non-life insurance company, from Thomas Cook Group Treasury Limited, which is in liquidation.
Marco Capital is a Malta-headquartered European property and casualty (P&C) insurance run-off group which launched in Europe’s P&C run-off market in 2020.
The transaction has received regulatory approval from the Isle of Man Financial Services Authority and has now completed.
Cains’ corporate and commercial team, which was led by Scott Leonard-Morgan with support from Catherine Hamill, acted as lead Isle of Man legal advisors to Marco Capital on all Isle of Man aspects of the acquisition.
Scott Leonard-Morgan, Director of Cains, said: “We are delighted to have assisted Marco Capital with this matter and to have supported their first acquisition of a captive. Our mergers, acquisitions and insurance teams continue to be extremely busy advising local and international clients and this transaction further cements the teams’ reputations as leading specialists for M&A and insurance regulatory work.”