After receiving approval from the Prudential Regulation Authority (PRA), Markel International has completed its acquisition of EC Insurance Co. Ltd (ECIC).
ECIC offers a wide range of insurance solutions for both contractors and affinity groups across the UK building services industry, and will become part of specialist re/insurer Markel’s UK national markets business.
Markel’s UK national markets business also includes Abbey Legal and Abbey Tax, which support a range of affinity groups, including the Federation of Small Businesses.
Neil Galjaard, divisional Managing Director (MD), commented; “ECIC is a well-established, niche insurance specialist, which will benefit from the financial resources and operational efficiencies we can bring to supporting its business, as well as the attractions we offer of a broader distribution reach and a wider product and services portfolio. It will establish us as a leading player in the contractors’ market.”
While ECIC’s Chief Executive Officer (CEO), Richard Forrest Smith, said; “Markel is an attractive new parent which has the expertise and commitment to grow and develop ECIC’s core business lines. We look forward to being part of the Markel family.”
