Markel
-
Further rate rises “aren’t just a nice to have”, Markel’s co-CEO said on Thursday. -
"We’ve got skills, capital, distribution and knowledge” to maintain dominance, the executive said.
-
The launch follows the carrier’s decision earlier this year to put CatCo into run-off.
-
The co-CEO warns a higher catastrophe frequency and severity also calls for more rate.
-
Markel beats second quarter operating earnings expectations by 2.7 percent as favourable reserve development drops by $38.9mn.
-
The company is also placing its Markel Catco reinsurance fund into run-off.
-
The company has reached a settlement with Alissa Fredricks and agreed to binding arbitration with Tony Belisle.
-
The lawsuit against carriers including Chubb, Allianz and Markel follows the passage of NY’s Child Victims Act.
-
“It won’t be long” before insurance partnership with Markel is launched, Musk said.
-
The deterioration pushed the retro fund’s 2018 loss to 46.7 percent for C shares.
-
Nick Lazarus will take the London-based segmental managing director role.
-
Markel missed earnings expectations by 15.9 percent as favourable reserve development dropped by $38mn.
