Markel

The insurance group benefitted from strong revenues at its Markel Ventures division.

Adriana Belli will oversee all of the insurer’s property, marine and select risks claims division.

New civil case filings in federal court were up 43% as of the end of June.

She is based in Virginia and reports to the carrier’s CFO Jeremy Noble.

Steve Markel replaced Alan Kirschner as chairman of the Markel board in May.

The settlement will be paid in the third quarter.

Markel cut its exposure equities during the recent market rally hardening in general liability, professional lines and property.

The firm saw volatility in its equity portfolio and has accumulated $325mn (12 points) of Covid-related losses.

The 2020 plan replaces the 2016 employee stock purchase program.

Markel held its quarterly earnings call yesterday, during which it hit on a number of topics, including outlining for analysts the nature of the company’s pandemic losses.

The combined business will trade under the Markel Specialty banner from 1 April and will run a book of around $4bn in premiums.

A picture is emerging of the state of the reinsurance market heading into the mid-year renewals.