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Markel in $135mn US workers’ comp acquisition
Specialty (re)insurer Markel Corporation has acquired privately owned US workers' compensation insurer Aspen for $135mn in cash.
Markel said that the deal price is contingent on the development
of Aspen's loss reserves and profit commissions over time,
among other criteria.
Nebraska-headquartered Aspen Holdings, which trades through its
subsidiary FirstComp, writes over $300mn in gross premium
annually.
Aspen, which is wholly unrelated to its Bermudian-headquartered namesake, operates through a network of over 9,000 retail agents and has more than 500 employees...
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