Markel completes acquisition of 51-year-old marine MGA

Markel has completed its acquisition of specialist marine MGA Meco Group.

Founded in 1974, the MGA provides products and services to a range of global marine clients, including charterers and traders, shipowners and entities engaged in maritime operations and global supply chains.

The firm, which wrote £47.5m ($63m) in gross written premium (GWP) in 2024, operates in London, Dubai and Shanghai.

The acquisition was announced in April 2025 and has now been complete following regulatory approvals.

The firm will join the specialty division of Markel International’s wholesale operation and trade as Meco Specialty.

‘Important milestone’

Andrew McMellin, president at Markel International, said: “We’re thrilled to finalise this acquisition and officially welcome Meco’s people 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 at Meco, added: “This development represents an important milestone in the evolution of Meco. Markel is a rapidly growing organisation that has built its success on a strong balance sheet, clear strategic vision and philosophy of local empowerment.

“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.”