Markel confirms plans to merge US Specialty and Assurance unitsMarkel has confirmed it plans to combine its existing Markel Specialty and Markel Assurance insurance operations into a single division led by Bryan Sanders that will represent around $4bn in gross written premium, a move that was first revealed last month by The Insurer.
Allstar unit Venture to offer general liability on Scor paperAllstar Financial Group’s managing general agent (MGA) Venture Underwriters has partnered with Scor’s US surplus lines company to underwrite and distribute general liability-related business, adding to its existing products offered on Markel paper.
Sanders to lead combined $4bn US platform under Markel Specialty bannerMarkel is combining its existing Markel Specialty and Markel Assurance insurance operations into a single division led by Bryan Sanders that will represent around $4bn in gross written premium, The Insurer can reveal.
Hippo replaces Munich Re with expanded reinsurance panelPalo Alto-based insurtech Hippo has unveiled a new panel of reinsurers that includes Arch, Markel, RenaissanceRe and TransRe.
London MGA Rokstone hires former Markel duo Pitts and UnglessAmbitious London-based MGA Rokstone has hired the former Markel International MD of property, Dean Pitts, as it continues to bolster its senior underwriting ranks, The Insurer can reveal.
Medmal pricing starting to exceed claims inflation: MarkelMarkel has seen an uptick in its medical professional liability rates that indicates pricing in the segment is finally matching up with the rising cost of claims, co-CEO Richard Whitt has said.
Markel returns to operating profit in Q4US insurer Markel has returned to operating profit in the fourth quarter of 2019, but the reinsurance segment again made an underwriting loss.
Markel appoints Titterton as trade credit MDMarkel International has promoted Carl Titterton to divisional managing director of trade credit, political risk and surety (TCPRS) after 10 years with the business.
Fitch assigns BBB rating to State National cat bondFitch has assigned a BBBsf rating to the Class A notes of the newly launched $100mn Stratosphere Re cat bond that provides protection to State National for tail risk assumed as a result of business it fronts for its Markel stablemate Nephila.
Markel, RenRe and Nephila among cyber start-up Cowbell’s reinsurersCowbell Cyber has launched a policy offering up to $5mn in limits through insurtech MGA Boost Insurance with a panel of reinsurers including Markel Global Reinsurance Company, Renaissance Re Holdings, and Nephila Capital.
Markel takes QBE’s Singh for India CUOMarkel International has appointed Anirudh Singh as chief underwriting officer for India.
Standard Life Aberdeen fund looks set to exit ILS after CatCo lossesA fund within Standard Life Aberdeen’s (SLA) asset management business Aberdeen Standard Investments (ASI) that invested in CatCo looks set to quit the insurance linked securities (ILS) sector as it has not found new opportunities offering a satisfactory risk-return combination.
Markel names Pioneer’s Styles cargo, specie and terrorism underwriterMarkel International has appointed Brook Styles as cargo, specie and terrorism underwriter, in its London office.
Markel promotes Finsness to lead global casualtyUS carrier Markel has appointed Mia Finsness to the role of managing director of global casualty underwriting and claims.
CatCo discloses 25% dent to 2019 capital on Dorian, Faxai and HagibisMarkel CatCo has announced that the impact of North Atlantic Hurricane Dorian and Japanese Typhoons Faxai and Hagibis on the investment manager’s loss reserves reduced capital deployed this year by 25 percent.
Veteran Markel chairman Kirshner to retireVice chairman Steven Markel will take over from Alan Kirshner as executive chairman of US specialty insurer Markel Corp when the veteran stands down from the post next May.
State National CEO Ledbetter to retire as Freeman takes overState National co-founder Terry Ledbetter is stepping down as chairman and CEO of the Markel-owned fronting carrier with Matthew Freeman named as his successor.
Underwriting profits surge at Markel on reserve releases and lower catsThird quarter underwriting profits jumped from $6.5mn to $72.7mn at Markel as the carrier reported significantly improved combined ratios in its insurance and reinsurance segments, including more favourable development in casualty reserves than in the prior-year period.
Markel names Hastings wholesale MD in leadership shuffleMarkel International has appointed internal candidate James Hastings to the role of wholesale managing director, as the carrier looks to create two distinct operations for its wholesale and national markets businesses.
Wilson to spearhead global strategy for Markel InternationalMarkel International has appointed Simon Wilson as managing executive of global strategy for insurance operations.