Markel
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The carrier stopped accepting new business starting February 7.
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Rodrigues’s retirement caps nine years with Markel.
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The executive discussed Markel’s performance in an annual shareholder letter.
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Commercial carrier earnings continue to show mixed prior-year development.
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Markel, Axis and Selective booked sizeable reserve charges in their liability segments.
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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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Insurance Insider US runs you through the earnings results for the day.
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The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
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Brian Costanzo, who joined the company in 2009, was previously CFO of Markel’s insurance business.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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After joining the firm in 2018 from Chubb, Cox oversaw the carrier’s Markel Specialty and Markel International divisions.
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This replaces a $750mn program authorized in February 2022, under which $633mn of the company's common stock was repurchased as of November 29.
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The programme services carrier will serve UK MGAs from 1 January.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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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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The Inside P&C news team runs you through the earnings results for the day.
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Markel named Alex Martin, Markel’s current CFO, as Sanders’ successor.
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The start-up MGU will initially focus on real estate, hospitality and leisure, financial institutions and professional services industries.
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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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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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This is manifesting itself in sharp rate gains in the specialty insurer’s property book, while public D&O continues to decline at alarming rates.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The Inside P&C news team runs you through the earnings results for the day.
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The appointments include elevations within wholesale and retail distribution, as well as commercial lines and construction.
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Pollaro joined Markel in 2009 and most recently served as managing director of management and professional liability for Markel Specialty.
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Markel established the new positions to address the unique needs of its wholesale and retail business models.
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The company is making the change to provide greater definition around its three engines of insurance, investments, and a group of diverse businesses in Markel Ventures.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The loss portfolio transfer deal was completed in March of this year, covering £200mn of UK motor insurance claims.
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This may slow premium growth but ensure sustainability long term, according to its insurance president.
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Markel also disclosed that its Q1 2022 underwriting results included $35mn of losses attributed to the Russia-Ukraine conflict.
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He has over 15 years of experience in the insurance business, working in multiple areas, including catastrophe risk management and ceded reinsurance.
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The executive will be based in Markel's Glen Allen office and report to chief claims officer Nick Conca.