Markel
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The business will divide into US wholesale and specialty, and programmes and solutions. -
The insurer has not yet announced a successor for the 32-year company veteran.
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Meco's 2024 gross written premiums totaled $63mn.
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Construction defects, GL and risk-managed professional liability lines saw the greatest headwinds.
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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 had announced the exit from the line of business in the US last year.
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Technology is key to streamlining the value chain and mitigating loss ratios.
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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 group should also tilt capital allocation away from M&A and deepen its disclosure.
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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”.
Related
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Markel estimates $90mn-$130mn Q1 CA wildfire loss, swings to UW gain
February 05, 2025 -
Markel board taps advisers for business review following Jana feedback
February 05, 2025 -
RPS brings on Markel’s Oh as national property president
November 18, 2024