Markel Insurance has finalized its acquisition of specialist marine managing general agent The MECO Group Limited (MECO), following the necessary regulatory approvals.
Founded in 1974 as Michael Else and Company Ltd., MECO has more than 50 years of experience in the marine insurance sector. Over the decades, the firm has developed a reputation for underwriting expertise and client service in the marine space.
Its name, derived from founder Michael Else, remains associated with charterers protection and indemnity (P&I) and related coverages. Today, MECO operates under three core brands: The Charterers P&I Club, Transmarine, and Aurora P&I, offering clients specialized solutions for a variety of marine insurance needs. It 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. These offerings have allowed the company to support a broad client base involved in shipping and maritime operations globally.
In 2024, MECO reported $63 million in gross written premiums, reflecting the scale of its operations in the sector. The company has offices located in London, Dubai, Shanghai, and Hamburg.
Moving forward, it will operate as MECO Specialty within the specialty division of Markel International’s wholesale business, under the leadership of Tom Hillier, managing director of specialty.
Andrew McMellin (pictured above), president of Markel International, said the company has completed the transaction and welcomed MECO’s employees to Markel.
“MECO is a well-regarded brand, known for its professionalism, operational quality, and robust distribution channels in regions where we're actively expanding our presence. I look forward to the opportunities we can leverage as we join forces."
Chris Else, chief executive of MECO, described the transaction as a significant point in MECO’s development.
“From early discussions with the leadership team, it was evident that their core values, as a people-powered business, make Markel an excellent fit for MECO as we embark on this new and exciting chapter,” Else said.
The deal comes following a major divisional reorganization for Markel, with Markel’s US and Bermuda operations, which were previously operating under the Markel Specialty brand, having been divided into two new divisions.
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