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.

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 (

Vision Values

Kelvin Re is a privately-owned, Guernsey domiciled and regulated reinsurer, writing short tail property and specialty lines reinsurance. The combined strength of our capitalisation, management team and well-designed risk management programme provide a platform for innovative and efficient leadership in the reinsurance industry. 

Kelvin Re aims to provide the most efficient reinsurance coverage to clients by leveraging our unique risk management structure, key partnerships and diversified business profile.


Kelvin Re is backed by over $300m of permanent capital, a truly long-term investment.

Excellent Risk

Kelvin Re is supported by an experienced team of reinsurance specialists and a unique business structure that will reinforce longevity.

Business Profile

Kelvin Re holds a diversified business profile within the reinsurance market.


Expense Ratio

Kelvin Re has achieved an expense ratio of 13.5%, circa seventeen percentage points lower than the industry average of 30.8% (source: Aon Benfield Aggregate 2020).


Years Experience

Kelvin Re is supported by a diverse team of insurance professionals with over 200 years' experience in the industry.