Markel
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Upon Whitt's retirement, Thomas Gayner, co-CEO of Markel, will become CEO. -
Acrisure entered into a definitive agreement with Markel in March to acquire the MGA.
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The call came after Markel reported Q1 results that included 21% growth and a 5 point reduction in the combined ratio.
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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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In the quarter, Markel reported gross written premiums of $3.4bn, marking a 21% increase on a year-over-year basis.
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Courts in Bermuda and the US approved the move, which had earlier been subject to investor litigation.
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His departure follows the closure of retro platform Lodgepine and Markel’s cat exit.
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The appointment marks Markel International’s entry into the US war and terrorism market.
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The protracted firming phase of the cycle continues, with E&S firmer than the admitted market.
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The executive also called the company’s $628mn underwriting gain in 2021 a ‘record-smashing’ figure.
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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 (re)insurer grew GWP by 19% to $8.5bn in 2021 and cut its reported combined ratio to 90%.
