Marco Capital Holdings is a subsidiary of Marco Capital Group, a European P&C run-off group.
BRIC is an authorised UK non-life insurance carrier and has been bought to help Marco in providing reinsurance solutions.
The transaction will also assist Marco to offer finality by acquiring portfolios of non-life insurance loss reserves.
The sale has received all required regulatory approvals.
Simon Minshall, CEO of Marco, said: “BRIC, Marco’s first UK transaction, provides Marco with an excellent underwriting platform for P&C Legacy transactions in the UK and the London Market.
“Our growing professional team, experienced in both Legacy and Live P&C, supported by our outsourcing partners enables Marco to offer innovative and competitive solutions to our counterparties.”