Markel
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The deal was announced last month. -
The company was right to drop its reinsurance unit and refocus on its specialty roots.
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The president expects to see benefits from the deal in H2 2026.
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Lion's share of Markel Re staff have been offered roles at Ryan, with others to work on run-off.
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The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Nationwide will delegate management of the policies to Ryan Specialty.
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Hagerty Re will now assume 100% of the premium and 100% of the risk.
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Finsness joined the carrier in 2014 and was head of casualty claims in Bermuda from 2017 to 2023.
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Markel is simplifying its structure from six US wholesale and two US retail regions to four integrated US regions.
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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.
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The latest E&S player planning to IPO remains a “show me” story.
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