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Markel

Markel adds trade credit underwriter from Coface

15th February 2019

Specialist re/insurer Markel International has announced the appointment of Ramzi El Kadi as an underwriter within its trade credit, political risk and surety operation in Dubai. El Kadi brings five years’ experience in the trade credit insurance industry and was most recently the credit risk underwriter at Coface, Dubai. “2018 was a ... Read the full article

Property reinsurance rates “inexplicably flat” at 1/1, says Markel’s Whitt

11th February 2019

Richard Whitt, Co-Chief Executive Officer (CEO) and Director of Markel Corporation, has said that property reinsurance rates were “inexplicably flat” at the recent January renewals. Speaking during a company earnings call, Whitt noted that reinsurance rates were disappointing at the 1/1 renewals despite two consecutive years of heavy catastrophe losses across ... Read the full article

Markel CATCo heads dropped after review, new execs take over

21st January 2019

Markel Corporation has announced that reinsurance executives Jed Rhoads and Andrew Barnard are to take over management of Markel CATCo following an internal review that resulted in the departure of the unit’s former heads, Anthony Belisle and Alissa Fredricks. Belisle, who was CATCo’s Chief Executive Officer (CEO), and Fredricks, who was ... Read the full article

Markel completes Nephila acquisition

15th November 2018

Markel Corporation has successfully completed its previously-announced its acquisition of Nephila Holdings Limited, the largest manager of catastrophe and weather insurance and reinsurance linked investment funds in the world. Nephila manages $12.2 billion of assets under management (AuM) for a geographically diverse investor base of more than 300 investors. The ... Read the full article

Markel’s post-Brexit German hub approved to open UK branch

12th November 2018

Markel Corporation has received regulatory approval to operate a UK branch office for its recently established German insurance company, Markel Insurance SE (MISE). MISE was formed in July 2018 after Markel was granted a license by BaFin, Germany’s federal financial supervisory authority. With uncertainty remaining about the terms of the UK’s ... Read the full article

Markel’s reinsurance business struggles at Q3 despite low cat losses

5th November 2018

Markel posted a 13% decrease in earned premiums and a combined ratio of 115% for its reinsurance business during the third quarter of 2018 despite relatively low catastrophe losses. This resulted in an overall loss of $33.7 million for the reinsurance business, although the company still turned an underwriting profit overall ... Read the full article

Markel forms new Marine and Energy divisions, names heads

5th November 2018

Specialist insurer and reinsurer Markel International has created two new standalone divisions for Marine and Energy, and has appointed Chris Fenn and Julian Samuel as Managing Directors of the businesses. The formation of the new divisions reflects the growth of Markel’s Marine and Energy business, which has become the single largest ... Read the full article

Markel opens new office in India

5th October 2018

Specialist insurer and reinsurer Markel International has announced that its office in Mumbai, India is now open and actively writing business. Markel provides local Indian insurers with specialist facultative reinsurance in a broad range of commercial classes, including marine, energy, contingency, and professional and financial risks. Deepika Mathur, head of Markel’s Indian ... Read the full article

Markel makes new Trade Credit & Surety appointments

2nd October 2018

Markel International, the specialist insurer, has strengthened its Trade Credit, Political Risk & Surety (TCPRS) operations by expanding the role of Simon Philpin and appointing Victoria Northedge as Assistant Underwriter. Philpin has worked in Markel’s Trade Credit division since 2014, most recently as a Senior Underwriter, and will now also be ... Read the full article

Markel adds Jennifer Chang to Trade Credit and Political Risk team

6th September 2018

Markel Corporation has expanded its Trade Credit and Political Risk operations in New York with the appointment of Jennifer Chang as Underwriter and Senior Risk Analyst. Chang has nine years’ experience in the trade credit and insurance industry and has broad expertise in both commercial and risk underwriting, having most recently ... Read the full article

Markel Corporation buying Nephila Capital, world’s largest ILS manager

31st August 2018

It's been announced that Markel Corporation is to acquire all of the outstanding shares of Nephila Holdings Limited, the largest manager of catastrophe and weather insurance and reinsurance linked investment funds in the world. Nephila manages $12.2 billion of assets under management (AuM) for a geographically diverse investor base of ... Read the full article

A.M. Best gives Markel’s German insurance subsidiary A rating

30th July 2018

Global rating agency A.M. Best has assigned Markel Corporation's new German insurance subsidiary an A financial strength rating. Markel announced recently that the German federal financial supervisory authority, BaFin, had granted the firm a license to establish an insurance company in the country, called Markel Insurance SE (MISE). Markel explained at the time that the new subsidiary ... Read the full article

Markel secures license for German insurer

19th July 2018

In light of the UK's vote to leave the European Union (EU), Markel Corporation has been granted a license to establish an insurance company in Germany by BaFin, the country's federal financial supervisory authority. With uncertainty remaining about exactly what Brexit means for many financial services, the license enables Markel Insurance ... Read the full article

Markel appoints Chubb’s Robert Cox as President and COO, Insurance

13th July 2018

Markel Corporation has appointed Robert Cox, former Chief Operating Officer (COO) at Chubb, to the newly created position of President and COO, Insurance Operations. Cox will be tasked with overseeing all of Markel’s insurance divisions, including Markel Assurance, Markel Specialty, and Markel International , as well as Sales and Marketing. Additionally, Markel ... Read the full article

Boost secures reinsurance capacity for InsurTech development platform

10th May 2018

Boost Insurance has secured a dedicated reinsurance facility to support its B2B InsurTech development platform, led by re/insurance investment manager Nephila Capital with participation from Markel Digital and RenaissanceRe Holdings. Boost plans to manage a program that supports multiple InsurTech start-ups as they enter the property and casualty (P&C) industry across ... Read the full article

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