Markel Insurance Finalizes Acquisition of MECO Group
Markel Insurance has completed its acquisition of The MECO Group Limited (MECO), a specialist marine managing general agent, following necessary regulatory approvals. Founded in 1974 as Michael Else and Company Ltd., MECO has developed a reputation for underwriting expertise and client service in the marine insurance sector over more than 50 years.
MECO operates under three core brands: The Charterers P&I Club, Transmarine, and Aurora P&I, offering specialized solutions for various marine insurance needs. The company also provides complementary legal services through its affiliated law firm, True North. MECO’s underwriting services cover a range of marine risks, including charterers P&I, freight, defense and demurrage, trade disruption, loss of hire, strikes delay, small vessel owners’ P&I, and contractual extension liabilities.
In 2024, MECO reported $63 million in gross written premiums, reflecting the scale of its operations. The company has offices in London, Dubai, Shanghai, and Hamburg. Moving forward, MECO will operate as MECO Specialty within Markel International’s specialty division of its wholesale business, under the leadership of Tom Hillier, managing director of specialty.
Andrew McMellin, president of Markel International, welcomed MECO’s employees to Markel, stating that MECO is a well-regarded brand known for its professionalism and robust distribution channels. Chris Else, chief executive of MECO, described the transaction as a significant milestone in MECO’s development, highlighting that Markel’s people-powered business approach aligns with MECO’s core values.
