Markel
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Rates are bottoming out, but ample capacity is still preventing a hardening market.
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The deal was announced last month.
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Ex-Tysers chairperson Dan Lott heads the consultancy as CEO.
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A majority of staff not offered jobs at Ryan Re will remain at Markel to manage the run-off.
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The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
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Stacey Hinton and Max Elliot are set to join Ark from Markel International.
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Nationwide will delegate management of the policies to Ryan Specialty.
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The carrier’s president Andrew McMellin is aiming to double London market share in the next five years.
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Nick Line has spent 28 years at Markel, where he has been CUO since 2018.
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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.
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Lee Mooney will replace Neil Galjaard, subject to regulatory approval.
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