Markel CatCo sets loss reserves for Dorian & FaxaiMarkel CatCo has established specific loss reserves held by its listed reinsurance fund for hurricane Dorian and typhoon Faxai.
CatCo’s Montgomerie & Vaughan launch Markel-backed Chard ReMarkel CatCo portfolio managers Rick Montgomerie and Charlie Vaughan are to depart from the retro fund manager and set up a new specialist ILS investment manager and fund with backing from Markel – Chard Re Investment Management (Chard Re).
Markel Brazil’s senior leadership buy out of International businessMarkel International has agreed to sell its Brazilian operation, Markel Seguradora do Brasil, to its existing executive team after five years of operation.
Brexit has provided Markel opportunities: WhittMarkel co-CEO Richie Whitt has revealed the US insurer has been surprised about the opportunities that have arisen out of it establishing a German subsidiary in response to Brexit.
Markel hires Hamilton’s Slade as Lodgepine presidentBrent Slade has been named president of Markel’s new retro ILS fund Lodgepine Capital Management Limited, joining from Hamilton Capital Partners.
Retro platform Lodgepine launched by Markel ahead of 1.1Markel has officially launched its new retro ILS fund manager in Bermuda called Lodgepine Capital Management Limited along with a collateralized reinsurance company, Lodgepine Re
RPS launches MedPL product with MarkelRisk Placement Services (RPS) has launched an online quote-bind-issue functionality for allied healthcare medical professional liability (MedPL) policies underwritten by Markel.
Markel leads Q2 e-placement table as Lloyd’s exceeds targetMarkel Syndicate 3000 has flown to the top of the second quarter league table of Lloyd’s adopters of PPL – the e-placing platform that was rolled out in the London subscription market 18 months ago – after ranking 42nd in Q1.
Markel hires ex-Axis exec Lecci to lead US professional E&OJohn Lecci has been named a senior director of professional liability at Markel, heading the New York-based US professional errors and omissions team.
Markel looks to former Marsh VP Nunn for energy underwriterMarkel has appointed Mark Nunn as an energy underwriter in Singapore, succeeding Tim Foister who returns to the energy team in London after three years in Asia.
New Markel retro platform “not a replacement” for CatCoMarkel’s co-CEOs in an earnings call stressed they will take a “crawl-walk-run” approach to its new Bermuda retro platform and also explained a $213mn investment in MGA Hagerty.
Markel reveals $213mn Hagerty investmentMarkel has disclosed in its second quarter results that it acquired a minority ownership interest in managing general agent The Hagerty Group for $212.5mn in June.
Markel to launch new retro ILS platform, wind down CatCoMarkel intends to establish a new retrocessional ILS platform in Bermuda, comprised of a reinsurance company, fund entity and investment manager.
CRC launches $15mn investment advisors cover with MarkelUS wholesale broker CRC has added an investment advisors liability product to its exclusive Insurisk platform with capacity thought to be provided by specialty insurer Markel, The Insurer can reveal.
Markel confirms Fredricks settlement and Belisle binding arbitration agreedMarkel has confirmed it has agreed to a binding arbitration with former CatCo CEO Anthony Belisle and a mutually agreeable settlement with the ILS manager’s erstwhile Bermuda chief Alissa Fredricks.
Fired CatCo CEO’s $65.8mn lawsuit against Markel settledThe lawsuit filed by the fired CEO of Markel CatCo Anthony Belisle seeking $65.8mn of incentive payments from his former employer has been settled, while erstwhile CatCo Bermuda CEO Alissa Fredricks has voluntarily dismissed her case seeking $7.4mn.
Markel’s Stobbs succeeds Cannock as Asia MDMarkel International has named Christian Stobbs as managing director of Asia, replacing Matt Cannock who is leaving the firm after seven years.
Markel names Coface’s Paul senior underwriter in DubaiMarkel International has hired Keith Paul to take up the role of senior trade credit and political risk underwriter in Dubai.
Markel offers $20mn limits with Cyber 360 policy launchMarkel International has launched Markel Cyber 360, a policy that provides commercial and business clients with up to $20mn of protection against cyber risks.
Tesla to make acquisition before launching Markel-fronted insurance productElon Musk has revealed that electric car maker Tesla will launch its new insurance product, to be fronted by State National, once it completes an acquisition.