Markel

Insurance Insider US’s morning summary of the key stories to get you up to speed fast.

After joining the firm in 2018 from Chubb, Cox oversaw the carrier’s Markel Specialty and Markel International divisions.

This replaces a $750mn program authorized in February 2022, under which $633mn of the company's common stock was repurchased as of November 29.

The programme services carrier will serve UK MGAs from 1 January.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

A credit loss owing to a fraudulent letter of credit from Vestto added 1 point to the combined ratio in Q3, insurance president Jeremy Noble told analysts during a conference call.

The Inside P&C news team runs you through the earnings results for the day.

Markel named Alex Martin, Markel’s current CFO, as Sanders’ successor.

The start-up MGU will initially focus on real estate, hospitality and leisure, financial institutions and professional services industries.

Based in New York, the executive will report to Markel’s terrorism director Ed Winter, who is based in London.

Inside P&C’s morning summary of the key stories to get you up to speed fast.

This is manifesting itself in sharp rate gains in the specialty insurer’s property book, while public D&O continues to decline at alarming rates.