Reinsurance News
Markel
Markel CATCo raises over $2.3bn of fresh capital for 1/1
29th November 2017
Collateralized reinsurance and retrocessional investment fund manager, Markel CATCo Investment Management Ltd., has raised a huge $2.343 billion of new capital across its private and listed funds, placing the manager in a good position to meet demand at the key January 1st, 2018 renewals. Markel CATCo announced at the end ... Read the full article
Michael Crowley to retire from Markel Corporation
21st November 2017
Markel Corporation has announced that long-standing Vice Chairman, Michael Crowley, is set to retire on December 31st, 2017 and is to transition to a role as company advisor. Throughout 2018 Crowley will transfer responsibilities and key relationships before moving to company consultant in 2019. Alan Kirshner, the Company's Executive Chairman and Chairman ... Read the full article
Markel completes its acquisition of State National
20th November 2017
Financial services, specialty insurance and reinsurance group, Markel Corporation has completed its $919 million acquisition of fronting, program and lender service insurance specialist, State National Companies, Inc. Markel announced its agreement to acquire State National on July 26th 2017, so the transaction has been completed in a relatively short amount ... Read the full article
Retro player Markel CATCo raises $1.8bn+ to meet renewal demand
30th October 2017
Additional investments from existing and new investors, and the expectation of increased demand from both existing and new reinsurance clients at the upcoming January 1st, 2018 renewals, has seen Markel CATCo Investment Management Ltd. successfullyRead the full article
Markel estimates losses of $503mn from Harvey, Irma, Maria, & Mexico quakes
12th October 2017
Markel Corporation has announced estimated third-quarter pre-tax underwriting losses of $503 million from the impacts of hurricanes Harvey, Irma, Maria, and the Mexico City earthquakes. The firm states that the estimate is net of reinstatement premiums, and is based on claims received to date, and industry loss estimates, from both the ... Read the full article
Markel CATCo CEO Tony Belisle extends contract to 2020
21st June 2017
Markel CATCo Investment Management Ltd. Chief Executive Officer (CEO) Tony Belisle will be extending his contract with the firm to the 31st December 2020 after which he'll transition to an indefinite rolling annual basis contract. Belisle, whose original contract would have expired by 31st December 2018, commented; "I am proud of ... Read the full article
Markel reorganises to create new insurance unit, Markel Assurance
9th June 2017
Markel Corporation has established a new insurance unit called Markel Assurance that sees the combination of the re/insurer's Wholesale (excess and surplus lines) and Global Insurance (complex, risk-managed accounts) divisions, and that will be led by Bryan Sanders. The reorganisation and subsequent creation of Markel Assurance will be made up of underwriting ... Read the full article
Markel responds to Brexit with plans to establish German insurance company
18th May 2017
Re/insurer Markel has announced plans to open a branch in Germany to ensure it can continue to service its EU-clients after Britain leaves the union and to support its EU-27 growth strategy. The branch is set to be opened in Munich within the first half of 2018, and no later than ... Read the full article
Markel International Singapore appoints new marine underwriter
9th May 2017
Markel Corporation subsidiary, Markel International Singapore, has announced the appointment of Gustaf Kristiansson as a marine underwriter, based in the firm's Singapore office, reporting to Matt Cannock. Kristiansson moves from the company's Sweden office, where he was a marine underwriter, to hold the same position in Singapore for the specialist insurer and ... Read the full article
Markel adds ex-Munich Re marine underwriter Fordham to Singapore team
18th April 2017
Markel International Singapore, a specialist insurance office of the global insurer and reinsurer, has hired Colin Fordham from Munich Re to be a senior marine liability underwriter based from the Singapore office. Fordham had most recently worked for the Munich Re syndicate on the Lloyd’s Asia Platform in Singapore, also underwriting ... Read the full article
Markel appoints Towner as reinsurance placement head
7th February 2017
Markel International, the specialist insurance and reinsurance division of Markel Corporation, has appointed Warren Towner as its new head of underwriting management and reinsurance placement, making him responsible for all outwards reinsurance buying. Towner was previously general manager of Markel’s reinsurance division, so has the experience required to take on responsibility ... Read the full article
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