JDC TECHNICAL EVALUATION REPORT

Subject: Inceptum Insurance Company Limited (Company No: 03581552)

Reference UID: 6046 &6046.1

Market Authority: London & International Markets

Case Ref: CR-2025-007138

Secondary Case Ref: BRIC-ORD-992

Date: 23rd March 2026 & Updated 30th March 2026

Status: Hearing Week

Case Summary (Tier 4): The High Court of England and Wales is scheduled to hear the application to sanction the Part VII transfer of Inceptum’ s entire UK general insurance and reinsurance business to British Reserve Insurance Company Limited (BRIC) during the week commencing 23 March 2026.

If sanctioned, the transfer is expected to take effect on 31 March 2026, consolidating a significant legacy portfolio within the Marco Capital group.

Supplementary Tier 5 Data: UID 6046.1

  • Sanction Confirmation:
    • The Order: The High Court of Justice (Chancery Division) formally sanctioned the Scheme during the week of 23 March 2026.
    • Effective Point: The “Legal Transfer” is confirmed for 23:59 BST on 31 March 2026. At this precise moment, Inceptum is legally discharged from all liabilities, which are simultaneously assumed by BRIC.
  • Transferee Technical Profile (The “Landing” Entity):
    • Entity: British Reserve Insurance Company Limited (BRIC).
    • Company Number: 00307622.
    • Regulatory Status: BRIC is the primary UK consolidation vehicle for the Marco Capital Group. This transfer centralizes Marco’s UK legacy portfolios (including those originally from HSBC and R&Q) into a single regulated balance sheet.
  • Operational Transition:
    • Run-off Management: Post-transfer, all claims and reinsurance recoveries will be managed by Marco Capital from their London hub at 24 Monument Street, London, EC3R 8AJ.
    • Digital Gateway: The dedicated portal for policyholder inquiries has been updated to InceptumPartVII@marcocapital.net.
  • Archive Reference (The “Expert” Opinion):
    • Independent Expert: Simon Sheaf (Grant Thornton UK LLP). His final supplementary report confirmed that the security of policyholders would not be adversely affected by the consolidation into BRIC, providing the technical clearance for the Judge to sign the Order.