Marco Capital has entered into an agreement to acquire Pro Global, subject to regulatory approval, as part of its strategy to build an integrated legacy insurance and insurance services group.
Following completion of the deal, Gloucester-headquartered Pro Global will combine with Marco Capital-owned PoloWorks, based in Bishops Cleeve in Cheltenham, to create what the company describes as one of the industry's largest specialist insurance services businesses, serving Lloyd's, the London Market and international insurance markets.
The combined organisation is expected to employ approximately 1,400 people and operate from 15 offices across the UK, Europe, North America, Latin America and Australia.
Marco Capital reports that bringing the two businesses together will provide greater scale, a wider international reach and increased opportunities to invest in technology and digital innovation.
The enlarged organisation will provide services spanning underwriting support, delegated authority, claims, client finance, insurance management, finance and treasury services, alongside access to regulated platforms including Lloyd's syndicates, MGAs and captives.
It is also expected to increase the group's capacity to invest in technology, automation and AI, while creating a more scalable and diversified platform for future organic growth and acquisitions.
Simon Minshall, group CEO of Marco Capital Group, said Pro Global was a 'natural strategic fit', bringing a strong international footprint and complementary capabilities to the group.
He added: 'The combination creates a stronger proposition for clients, broader opportunities for our colleagues and a platform with the scale to continue investing in technology, innovation and operational excellence.'
Paul Andrews, CEO of PoloWorks, said '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.'
Steve Lewis, CEO of Pro Global, described the deal as an 'exciting new chapter' for the business, saying joining PoloWorks would provide an opportunity to build on its existing team and client relationships.
Top 100 Gloucestershire business set to be acquired by Marco Capital
Leading insurance services business Pro Global is set to be acquired by Marco Capital – parent company of PoloWorks, in a deal that will create a combined global organisation employing around 1,400 people across 15 offices.
