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Fleming has claimed breach of contract and is seeking roughly $78mn in “economic concessions”. -
The company reiterated its commitment to consummating the Accredited sale.
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The Marco Capital company will target the captives market.
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Its PE owners have been exploring strategic options since May last year.
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The newly launched Marco Re will be led by Mark Elliott as CEO.
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CEO Booth said there is “continued interest” in the NA captive market.
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The transaction would have been one of the largest the market has seen for years.
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The executive joined the legacy carrier as CIO in 2020.
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As part of the transaction, Carrick will assume the company’s staff and operations.
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R&Q is still dealing with a Bermudian regulatory review, personnel turnover and a transitioning business model.
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Just over half of votes cast were in favour of the $465mn sale to Onex.
