Kelvin Re Limited (“Kelvin Re”) was acquired by Humboldt Re Limited, a subsidiary of Marco Capital Holdings Limited (“Marco Capital”: on the 7th of July 2023.

Both Kelvin Re and Humboldt Re are Guernsey based reinsurance companies which were established under the stewardship of Credit Suisse’s ILS team on behalf of third-party investors and have ceased to write new business. There is substantial overlap in their books of business. The consolidation of these two reinsurers fully aligns with Marco’s P&C legacy strategy.

Kelvin Re is underpinned by strong risk-adjusted capital and meets all its obligations in full compliance with the applicable laws and regulations. Kelvin Re is authorised and regulated by the Guernsey Financial Services Commission.

Kelvin Re has achieved an A.M. Best rating of BBB-. The rating reflects Kelvin Re’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

Following the acquisition by Humboldt Re, the companies were merged on the 8th of December 2023, subsequently the new combined entity was renamed Marco Re Limited.

Marco Capital is a Europe based P&C Legacy (run-off) consolidator and is backed by €500m equity committed by funds advised/managed by Oaktree Capital (