Reinsurance News
Markel
Markel provides insurance and reinsurance solutions operating out of the US, Bermuda and other global locations.
The insurance arm of the Markel Group includes, Markel Specialty, Markel International and Markel Global Reinsurance, as well as State National, which manages portfolio protection and program services, and Nephila Capital, which is a specialist insurance-linked securities operation.
Read our Markel insurance or reinsurance news and analysis below.
NFU Mutual launches innovative parametric heat-stress insurance for dairy farmers
23rd May 2023
NFU Mutual, the leading rural insurer in the UK, has partnered with parametric insurance specialist Skyline Partners, insurer Markel, and broker Gallagher to introduce a groundbreaking insurance product designed specifically for dairy farmers. This parametric heat-stress insurance, the first of its kind in the UK, aims to mitigate the risks and ... Read the full article
Markel to change name as it targets greater clarity amid growth
18th May 2023
Markel Corporation has announced that it will change its name to Markel Group Inc. on Friday, May 26. The reason for this change is to provide a greater definition of the nature of their holding company. This includes three engines of insurance, investments, and a group of diverse businesses in Markel ... Read the full article
Markel reports growth in earned premiums as investment income swells 73%
27th April 2023
Markel Corporation has reported that earned premiums grew 12% in Q1 of 2023, reflecting growth in gross premium volume across many of the firm's product lines. The company's net investment income increased 73% to $159,335 million in Q1 of 2023, driven by higher interest rates compared to the same period of ... Read the full article
Markel hires new MD, Global Head of Cat and Exposure Management
26th April 2023
Markel Corporation has announced the hire of Amandeep Dhillon as its new Managing Director, and Global Head of Catastrophe and Exposure Management. Dhillon will be based in Markel's Glen Allen, Virginia office and will report to Kryszon. Dhillon’s remit in this role includes leading Markel's approach to catastrophe and exposure management across ... Read the full article
Markel appoints Richie Henry as Chief Operating Officer for Claims
6th April 2023
Markel Corporation has announced the appointment of Richie Henry as the Chief Operating Officer for Claims. Henry will be based out of Markel's Glen Allen office and will report to Nick Conca, the Chief Claims Officer. In his new position, Henry will oversee all North American Claims operations including claims administration, ... Read the full article
Marco Capital announces UK motor Loss Portfolio Transfer with Markel
21st March 2023
European P&C insurance run-off specialist Marco Capital has announced a Loss Portfolio Transfer (LPT) transaction regarding a portfolio of UK Motor insurance claims. Marco will provide a cover of up to £200m in claims reserves, while its Syndicate 1254 will provide cover to reinsured business stemming from Markel. The firm states that ... Read the full article
Markel Intl. adds Jan Pagan to its renewable energy team
10th March 2023
Markel International, a subsidiary of Markel Corporation, has announced that it has appointed Jan Pagan as a specialist risk control engineer within its renewable energy team. In the role, Pagan will be based at Markel’s London office, reporting to Tom Baker, Head of renewable energy at Markel International. The role will see ... Read the full article
Markel looking to grow reinsurance opportunistically: Noble
3rd February 2023
Jeremy Noble, President of Insurance Operations at Markel, has said that his company will look to “opportunistically” take advantage of favourable conditions in the reinsurance space this year, but will not be pursuing “growth for the sake of growth.” Noble’s comments came as part of a Q4 earnings call this week, ... Read the full article
Investments weigh on Markel through 2022, but underwriting stable
2nd February 2023
US re/insurer Markel Corporation has reported a comprehensive loss of $1.31 billion for 2022 as unrealized losses in the company’s investment portfolio continued to weigh heavily on results. However, underwriting profit remained stable for the year at $626.6 million on a combined ratio of 92%, including a return to profitability for ... Read the full article
Zywave launches new solution for insurer & broker partnerships
8th December 2022
Insurtech leader, Zywave has launched a new solution for the insurance market aimed at enhancing the value delivered by insurers, MGAs, and third parties to the UK retail broker market. The offering is an extension to Zywave’s Broker Briefcase, a tool which is used to support brokers in their sales, marketing ... Read the full article
Markel appoints Jessica Cardoso to new role in Bermuda
22nd November 2022
Markel has said that Jessica Cardoso has been appointed head of office for Markel Bermuda in addition to her current role of senior director and head of Bermuda errors and omissions. As head of office for Markel Bermuda, Cardoso will continue to help grow Markel's Bermuda presence and will be responsible ... Read the full article
Markel International expands Hong Kong presence with new office
21st November 2022
Markel International has announced that it has moved to a larger office in Hong Kong and has appointed specialist underwriters in financial lines and marine to its experienced team. The new office upgrade signals the firms aim to develop and grow its specialist expertise within the region. The firms Hong Kong office ... Read the full article
WTW collaborates with LSM & Markel on digital commercial insurance platform
17th November 2022
WTW has collaborated with Liberty Specialty Markets (LSM) and Markel to launch the pilot phase of a new digital commercial insurance platform. The venture between the three companies will aim to help improve connectivity, giving brokers flexible trading options and insurers speed and scale. Using globally-recognised data standards, WTW noted that the ... Read the full article
Gayner to become sole CEO of Markel in January, as Whitt retires
17th November 2022
US re/insurer Markel Corporation has announced that Thomas S. Gayner, currently Co-Chief Executive Officer (CEO) at the company, is set to take over as its sole CEO upon the retirement of Co-CEO Richard R. Whitt on January 1st, 2023. Also effective on that date, Jeremy A. Noble, Senior Vice President and ... Read the full article
Markel prepared to walk away from poorly priced business: Co-CEO Whitt
3rd November 2022
Markel Co-CEO Richie Whitt has asserted that his company is “prepared to walk away from business that is not adequately priced” as it contends with inflationary pressures and a volatile investment market. Markel reported a comprehensive loss of $367.4 million for the third quarter of 2022, due mainly to investment ... Read the full article
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