Reinsurance News

Markel

Buffett’s Berkshire takes $620m stake in Markel

17th May 2022

Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, took a $620 million stake in insurance and reinsurance provider Markel Corporation as part of a raft of investments during the first quarter of 2022. Analysts at KBW estimate that the value of Berkshire's equity portfolio has fallen by about $39.0 billion ... Read the full article

Aspen brings its clout to Counterpart

13th May 2022

Insurtech firm Counterpart has gone into partnership with Aspen Insurance and Markel to give small businesses access to the former’s management liability products. In a statement, Counterpart said that Aspen was joining as a member company of Markel. Tanner Hackett, CEO of Counterpart, said: “From vaccine mandates to hybrid workplaces to supply ... Read the full article

Markel’s Co-CEO Richard Whitt to retire by March next year

5th May 2022

After 31 years with re/insurer Markel and six years as Co-Chief Executive Officer (CEO), Richard R. Whitt III plans to retire by the end of March next year.  Whitt first joined Markel in 1991 and has held numerous senior leadership roles, including as President and Chief Operating Officer (COO) from ... Read the full article

Markel promotes Morris Taylor to CTO role

3rd May 2022

Markel has promoted Morris Taylor to become its new chief technology officer. The firm said that Taylor will lead the IT function globally and continue to build on critical partnerships across Markel's insurance operations. According to his LinkedIin profile, his most-recent role was as managing director IT for the firm, a ... Read the full article

Markel’s CR strengthens in Q1 but investments dent result

27th April 2022

Markel Corporation has reported an improvement in its combined ratio to 89% for the first quarter of 2022, as earned premiums increased to almost $1.8 billion in the period. The re/insurer's combined ratio strengthened by five percentage points from the 94% reported in Q1 2021, driven by a lower current accident ... Read the full article

Markel Intl. adds three to wholesale claims team

21st March 2022

Markel International has appointed Alia Bamrah, Keifer Edmonds, and Tony Halling as senior claims adjusters, adding further experience and technical expertise to the wholesale claims team, as it continues evolving its services for clients. All three appointments will be based in the company’s London office, holding the responsibility for day-to-day claims ... Read the full article

Markel reports court approval for CATCo fund buyout schemes

18th March 2022

Markel Corporation and Markel CATCo Investment Management has announced court approval of the buy-out transaction and schemes of arrangement being undertaken by Markel CATCo Reinsurance Fund and the CATCo Reinsurance Opportunities Fund. According to Markel, these two insurance-linked securities funds are currently in runoff and are managed by MCIM, the Funds' ... Read the full article

Markel International appoints new underwriting assistant for media and entertainment

15th March 2022

Markel International has appointed Emma Clegg to be an underwriting assistant for media and entertainment. The appointment comes as Merkel announced in a statement that it was seeking to grow its entertainment and media liability portfolios. Based at Markel’s London office, Clegg will be reporting to Pippa Stone, senior underwriter for ... Read the full article

Markel International hires new senior war and terrorism underwriter

14th February 2022

Markel International has hired Ben Wakeham to be its senior war and terrorism underwriter, alongside being the company’s head of terrorism for North America. The company said that Wakeham, being hired into the company from Hiscox USA, marks its arrival into the US war and terrorism market. It said Wakeham will ... Read the full article

Markel eyes 90% reinsurance combined ratio after shift in focus

3rd February 2022

By 2023, Markel Corporation is hopeful of achieving at least a 90% combined ratio in its reinsurance business after its decision to reduce volatility in the book by transitioning the property line to its insurance-linked securities (ILS) operation Nephila. Markel began this process in the first quarter of 2021, and ... Read the full article

Markel grows in reinsurance as group-wide combined ratio strengthens in 2021

3rd February 2022

Markel Corporation has reported a 10% rise in reinsurance gross written premiums (GWP) in 2021 to roughly $1.3 billion, as the improved underwriting performance of the company's insurance operation helped the group-wide combined ratio improve by 8 percentage points to 90%. Alongside solid GWP growth, Markel's reinsurance division reported a 17% ... Read the full article

Markel Intl. names Ruth Gordon as livestock underwriter

27th January 2022

Markel International, a subsidiary of Markel Corporation, has appointed Ruth Gordon as a livestock underwriter as part of its expansion within the livestock market. Gordon will join Markel International’s livestock underwriting team, where she’ll be responsible for growing and developing the livestock portfolio of business. She has worked in Markel’s equine and ... Read the full article

Markel Intl. names new war and terrorism underwriter

20th January 2022

Markel International, a subsidiary of the Markel Corporation, has appointed Matthew Brooke as a war and terrorism underwriter. The latest move forms part of the organisation’s growth plans to strengthen its current position in the war and terrorism market. He will report to Will Newman, senior underwriter for war and terrorism and ... Read the full article

AXA XL’s New Energy Risk partners with Markel on Bloom Energy fuel cell tech

20th January 2022

AXA XL's New Energy Risk subsidiary has partnered with insurer Markel to address the surge in demand for Bloom Energy fuel cell technology in the U.S. and globally. The collaboration sees New Energy Risk underwrite and structure performance insurance solutions that are issued by a member of company of Markel, and backed with ... Read the full article

Markel Intl. makes two leadership changes

18th January 2022

Markel International, a subsidiary of the Markel Corporation, has appointed Louise Foley as head of marine and energy liability, and Holley Higgins as head of transport and logistics, both reporting to Andrew Carter, head of liability at Markel International. Foley will hold responsibility for all marine liability and energy liability writings, ... Read the full article