Markel announces completion of MECO acquisition

Markel has completed the acquisition of specialist marine MGA, The MECO Group, following regulatory approvals.

MECO, which has offices in London, Dubai, Shanghai and Hamburg, will trade as MECO Specialty, as part of the Specialty division of Markel International’s Wholesale operation, led by Tom Hillier, Managing Director – Specialty.

Founded in 1974, MECO is based out of London and provides marine insurance products and services to a diverse range of global marine clients, including charterers and traders, shipowners and entities engaged in maritime operations and global supply chains. It generated $63 million in GWP in 2024.

“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.” – Andrew McMellin, President of Markel International.

“This development represents an important milestone in the evolution of the MECO Group. 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.” – Chris Else, Chief Executive of MECO.