Markel
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The entertainment business sitting alongside the discontinued lines will move to the specialty carrier’s professional and financial risks portfolio.
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The carrier says its UK SME policies don’t carry virus exclusions. -
Berkshire Hathaway, Fairfax and Markel sustained biggest falls in investment value.
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Markel will provide capacity of up to £25mn for another three years.
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The ILS fund manager’s parents makes hundreds of millions of dollars of capacity available.
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The combined business will trade under the Markel Specialty banner from 1 April and will run a book of around $4bn in premiums.
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General liability, professional liability and personal lines were key growth areas for the carrier.
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The carrier recorded operating earnings of $753.8mn, compared to a $932.1mn loss in the previous year.
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Carl Titterton has worked at the firm for nearly a decade and replaces Ewa Rose.
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Nephila raised its $100mn target from the Stratosphere Re bond, which covers both personal and commercial property business.
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Claims made from the 2017 hurricane in December impact its 2017 portfolio.
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The startup also offers up to $4mn of general liability cover online and sells business owner policy packages.
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