Markel
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The insurer continues to exit or reduce unprofitable lines and slowed growth as a result. -
The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis.
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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.
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The underwriter worked for Markel for a decade.
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The executive said that capital, tech and algorithmic capabilities would help the structures endure.
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Davide Pressman was a marine cargo underwriter at Aegis for under two years.
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A significant amount of new capacity has flowed into the political violence and terror market in recent months.
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This will not impact Markel International, which will continue to operate out of the UK.
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Smith joins from QBE Insurance, where he spent over 13 years.
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He brings 23 years of insurance industry experience.
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She joined the carrier as an underwriting assistant over 11 years ago.
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The underwriter will report to Juliet Redfern in the new position.
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Slipstream will be available to marine, cargo and logistics UK clients.
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The executive discussed Markel’s performance in an annual shareholder letter.
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The carrier has been hiring after the launch of a new specialty practice.
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The carriers were in arbitration with UnipolRe and Gen Re.
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Paul Western has been promoted to head of hull underwriting.
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The carrier did not consider pursuing an LPT deal to address the GL and PL issues.
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The figure was disclosed in the group's recent 8-K disclosure.
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The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
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The carrier is expanding its marine footprint in 2024 through its Lloyd’s and London branch.
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Rice has been appointed as senior underwriter and head of business development for Europe.
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The carrier has also appointed Tom Hillier’s Brit colleague Graeme Ivory as director of international casualty.
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Woodhouse will be based in London and report to Ed Winter, director of terrorism.
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The programme services carrier will serve UK MGAs from 1 January.
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A credit loss owing to a fraudulent letter of credit from Vestto added 1 point to the combined ratio in Q3, insurance president Jeremy Noble told analysts during a conference call.
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Rory Morison was hired last month to lead the Australian business.
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The carrier was one of Certa’s original capacity providers at its 2019 launch.
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Richard Burnett will take up the strategic position as head of cargo underwriting.
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Demand for specialty commercial insurance in Australia has been increasing, driven in part by the growth of the digital economy alongside traditional industries.
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Markel Bermuda entered into two collateralized reinsurance transactions with White Rock for the benefit of a segregated account owned by a Vesttoo affiliate.
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Based in New York, the executive will report to Markel’s terrorism director Ed Winter, who is based in London.
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The executive was chief actuary for Travelers’ Lloyd’s business and Creechurch Underwriting.
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The underwriter led the division specialising in marine and energy liability.
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Securities filings show the conglomerate’s ownership of Markel holdings was valued at over $600mn at the end of March.
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The carrier has also hired Paul Cunningham from Talbot to lead the claims function of its newly launched marine team.
