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Reinsurance News
26th November 2019
Markel Corporation's Mia Finsness, who currently leads Casualty Claims at Markel for North America and the Dublin and London Assurance divisions, has seen her role expand to Managing Director, Global Casualty Underwriting and Claims. In her new role, she will continue to manage the Markel North America and the Dublin and ... Read the full article
21st November 2019
Markel Corporation has announced that Alan Kirshner will not stand for re-election as Executive Chairman and Chairman of the Board at the company’s 2020 Annual Meeting of Shareholders in May. Kirshner will retire as a director and officer of the company at the end of the meeting, with current Board Member ... Read the full article
14th November 2019
Markel has announced that Terry Ledbetter, Chairman and Chief Executive Officer (CEO) of its State National division, will be retiring at the end of 2019. Matthew Freeman, currently State National President, will move into the role effective from January 1, 2020. Acquired by Markel in November 2017, State National is a specialty ... Read the full article
30th October 2019
Markel Corporation has reported an improved combined ratio of 94% for the third-quarter of 2019 compared with 99% a year earlier, as the firm produced a significantly better underwriting result in the period. In 2019, Markel's underwriting results included a loss of $42.6 million from Hurricane Dorian and Typhoon Faxai. This ... Read the full article
28th October 2019
Re/insurance holding company Markel Corporation has announced the addition of a new risk management tool to its cyber product offering. The tool, called WhiteHaX, simulates cyber security breaches and assesses the readiness of deployed security infrastructure and software. Markel believes the service will be particularly useful for small-to-medium size businesses. "The key to ... Read the full article
21st October 2019
Specialist re/insurer Markel International has announced the appointment of Simon Wilson as Managing Executive of Global Strategy for Insurance Operations, Markel Corporation, effective January 1, 2020. At the same time, the company said Henrik Bjornstad will move into Wilson’s former role as Managing Director of Markel International’s national markets division. Based in ... Read the full article
14th October 2019
Markel CATCo Investment Management Ltd., the collateralized reinsurance and retrocessional investment fund manager, has announced that two of its portfolio managers will be leaving the company to establish a new investment manager and fund, called Chard Re Investment Management (Chard Re). Rick Montgomerie and Charlie Vaughan were the portfolio managers for ... Read the full article
2nd October 2019
Specialist insurer and reinsurer Markel International has announced the sale of Markel Seguradora do Brasil S.A., its Brazilian insurance operations, to its existing executive team. Markel Seguradora is authorised to operate in the direct insurance market in numerous classes across Brazil. The main focus of the entity is on the agricultural ... Read the full article
20th September 2019
Re/insurance holding company Markel Corporation has announced the appointment of Brenton Slade as President of its new retrocessional reinsurance ILS fund management unit, Lodgepine Capital Management Limited. Slade joins from Hamilton Capital Partners, where he served as a Senior Vice President. Before that he was Chief Operating Officer for the Horseshoe ... Read the full article
8th September 2019
Markel Corporation has announced its new retrocessional reinsurance ILS fund management unit, Lodgepine Capital Management Limited., together with a reinsurer, Lodgepine Re. Initially, Lodgepine's product offering will be the Lodgepine Fund, a property cat retrocessional investment fund ahead of the 2020 renewals season. "Lodgepine will expand Markel's current range of ILS capabilities ... Read the full article
1st August 2019
Specialist insurer Markel International has hired Mark Nunn as an energy underwriter based in Singapore, reporting to Christian Stobbs, Managing Director of Markel International in Asia. In his new role, Nunn will work closely with Markel's international energy team to manage and further develop the firm's energy portfolio for the Asia ... Read the full article
31st July 2019
Insurer and reinsurer Markel has acquired a minority stake in specialty insurance managing general agent (MGA), The Hagerty Group, for a total consideration of $212.5 million. Markel announced the investment in The Hagerty Group in its second-quarter 2019 earnings release. The Hagerty Group, which was founded in Michigan in 1984, is ... Read the full article
31st July 2019
Markel Corporation has reported its results for the second quarter of 2019, showing a 20% increase in operating revenue to $2.4 billion, compared with $2.0 billion for the same period last year. The insurer and reinsurer also saw significant growth in its net income, which increased to $506.5 million, up from ... Read the full article
30th July 2019
Markel International, the specialist insurer, has announced the appointment of Chris Burgess as Head of Cyber in London. Most recently, Burgess worked as UK Cyber Leader at AIG, where he was responsible for the company’s cyber, technology, Telco, and media professional portfolios, as well as leading global strategies. He has more than ... Read the full article
26th July 2019
Markel Corporation has announced that it intends to establish a new retrocessional insurance-linked securities (ILS) platform in Bermuda, comprised of a reinsurance company, fund entity and investment manager. At the same time, the company said that it would start to wind down its existing Markel CATCo fund operations, which will be ... Read the full article
