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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU. -
The executive said he left the company in September.
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The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
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Last week, TSR updated its forecast and is now predicting above-average storm activity.
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The executive has over 30 years of finance and industry experience.
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The company’s credit ratings had been under review since early this year.
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Starr and Axon also are among those on the Marsh USA-placed $40mn line.
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The once niche product is generating interest in a growing number of industries and sectors.
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Kestrel stock will begin trading on Nasdaq tomorrow under the symbol KG.
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Politically related exposures are growing for the marine market.
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The executive has been with the firm since its inception in 2023.
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TSR previously predicted activity slightly below the 1995-2024 average.
