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.
Markel adds to its board of directors
24th August 2020
Markel Corporation has announced the appointment of Lynne Puckett to its board of directors. Puckett’s current role is the senior vice president and general counsel of Celanese Corporation, an international tech firm in the production of specialty materials and chemical products. Steve Markel, chairman of the board at Markel, commented: "We are ... Read the full article
Markel income up 75% as investment gains recover
29th July 2020
Markel Corporation has reported that its comprehensive income increased by 75% to $1.09 billion in the second quarter of 2020, as investment gains recovered following an initial Q1 COVID-19 shock. Comprehensive income was up from $623.3 million in Q2 2019, and the company’s combined ratio similarly improved from 95% to 88%. Net ... Read the full article
Allison Elzer named as lead of Markel Specialty’s new Risk Solution Services
15th July 2020
Markel Specialty, part of Markel Corporation, has announced the official launch of its newly expanded loss control department, Risk Solution Services, that will be led by Allison Elzer. This new department, headed by Elzer along with her team, is designed to support clients and production partners by offering risk management solutions ... Read the full article
Markel sees increased reinsurance pricing & demand for the foreseeable future: Co-CEO Whitt
13th May 2020
With insurers facing diminishing levels of capital amid the economic fallout from the ongoing COVID-19 coronavirus pandemic, executives at Markel Corporation are anticipating heightened demand for reinsurance protection and increased pricing for the foreseeable future. Unsurprisingly, first-quarter 2020 results announcements from insurers and reinsurers have largely focused on the current crisis. So ... Read the full article
Markel hit with $325mn COVID-19 underwriting loss in Q1
29th April 2020
Re/insurance holding company Markel Corporation was hit by a $325 million underwriting loss in the first quarter as a result of the coronavirus pandemic. The combined ratio was 118% for the quarter, or 94% after the exclusion of losses related to the pandemic. This compares to a combined ratio of 95% for ... Read the full article
Bold Penguin partners with Markel Specialty to expand commercial offerings
23rd April 2020
Commercial insurance platform provider Bold Penguin is expanding commercial offerings on its exchange to include excess and surplus (E&S) coverage, after partnering with Markel Specialty. Bold Penguin operates a digital exchange platform designed to help small-medium businesses, their brokers, and major carriers connect as fast as possible. The company believes adding E&S ... Read the full article
Fitch revises Markel’s rating outlook to negative
22nd April 2020
The ratings for Markel Corporation's core property and casualty insurance subsidiaries have been affirmed by Fitch Ratings, although the Rating Outlook has been revised to Negative from Stable. Specifically, Fitch has affirmed the 'A+' (Strong) Insurer Financial Strength (IFS) ratings for Markel Corporation's principal P/C insurance subsidiaries, and the firm's senior ... Read the full article
Markel invests in building product firms Lansing & Harvey
25th March 2020
Markel Corporation has entered into an agreement to acquire a majority interest in Lansing Building Products, a supplier of exterior building products and materials in the US. At the same time, Lansing has enhanced its geographic reach via the acquisition of the distribution business of Harvey Building Products. Established in 1955 in ... Read the full article
Markel to combine US Specialty and Assurance divisions
3rd March 2020
Markel Corporation has announced that it plans to combine its existing US insurance divisions, Assurance and Specialty, into a single division called Markel Specialty. Effective April 1, 2020, the combined division will preserve the regional model used by Assurance, while adding two new overarching territories, East and West. "This evolutionary change will ... Read the full article
Lower cat losses help Markel results to rebound
5th February 2020
Re/insurance holding company Markel Corporation saw its results return to profitability in 2019, as lower catastrophe losses and investment gains helped to boost its performance. Markel recorded operating revenues of $9.53 billion over 2019, compared with $6.81 billion in 2018. Income (before tax) similarly improved to $2.26 billion, versus a loss ... Read the full article
Carl Titterton to lead Markel’s trade credit, political risk & surety team
4th February 2020
Specialist insurer Markel International has announced the appointment of Carl Titterton as divisional managing director of its trade credit, political risk and surety (TCPRS) team. Titterton joined Markel International in April 2010 as a senior underwriter, specialising in credit insurance, and supported the integration of trade credit, political risk and surety ... Read the full article
Markel & RenRe back new policy from AI start-up Cowbell Cyber
23rd January 2020
Reinsurers Markel Global Reinsurance Company and Renaissance Re Holdings are among a group of companies that have provided backing for a new policy from Cowbell Cyber, a start-up focused on AI-powered cyber insurance for SMEs. The policy, called Cowbell Prime 100, is designed to enable insurance agents to issue personalised cyber ... Read the full article
Markel hires QBE’s Anirudh Singh as CUO for India
9th January 2020
Specialist insurer Markel International has announced the appointment of Anirudh Singh as India Chief Underwriting Officer (CUO), effective from December 24, 2019. Singh has 16 years’ re/insurance industry experience, and joins Markel from QBE General Insurance, where he most recently served as Chief Risk Officer. In this role, he was also responsible ... Read the full article
Markel adds Brook Styles as cargo, specie and terrorism underwriter
13th December 2019
Specialist insurer Markel International has appointed Brook Styles as cargo, specie and terrorism underwriter in its London office. Styles brings over 23 years’ experience in the marine underwriting space, having began his career at Markel. He re-joins the company from Pioneer Underwriting, having most recently served as head of marine specialty. Reporting to ... Read the full article
Markel’s Mia Finsness named MD, Global Casualty Underwriting & Claims
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
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