Markel
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The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis. -
The international division is seeking a new London market manager.
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Carriers are rethinking the traditional renewal-rights model.
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The underwriter has worked for Markel in Singapore since 2020.
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There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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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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Markel is prominent in the growing smart-follow market.
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Markel International has also hired senior underwriter Keely Madden.
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The product protects insureds outside of warzones from conflict-related cyberattacks.
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The business will divide into US wholesale and specialty, and programmes and solutions.
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Meco's 2024 gross written premiums totaled $63mn.
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Current specie head Victoria Bell is leaving Argenta to join Axis.
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The product supports investors of early-stage carbon removal projects.
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Markel also announced the appointment of Jon Michael to its board.
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Markel Insurance is made up of the firm’s three primary underwriting businesses.
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Markel’s move follows recent market entrances by CinFin, Argenta and Fidelis.
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Jana holds around 109,000 shares and 69,000 call options, at a $307mn total value.
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The company did not take questions on its recently announced business review.
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The insurer acknowledged additional claims in 2025 would be “reasonably possible”.
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The specialty insurer reported favorable developments in both its insurance and reinsurance segments.
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The board will lead the review following feedback from shareholders including activist investor Jana.
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The carrier’s US platform will continue to be led by long-time executive Sal Pollaro.
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The MGA has faced high claims activity on its energy liability book, fuelled by social inflation.
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The political violence market is in a competitive stage thanks to an influx of capacity.
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Aon announced in early December that it had expanded ACT to offer 28.5% capacity for 2025.
