RICHMOND, Va., Sept. 18, 2019 /CNW/ -- Markel Corporation
(NYSE: MKL) today announced it has hired Brenton" Brent" Slade as
president of Lodgepine Capital Management Limited, its new
retrocessional Insurance Linked Securities (ILS) fund based in
Bermuda.
"We are very pleased to have Brent join our senior management
team at Lodgepine," said Andrew "Barney" Barnard, chief executive officer of
Lodgepine. "Brent's experience in ILS, reinsurance and
alternative investments will be important in helping Lodgepine
develop as a significant institutional ILS asset manager."
Slade comes to Lodgepine from Hamilton Capital Partners, where
he was a senior vice president. Before that, he was chief operating
officer for the Horseshoe Group, where he led global business
operations. Between 2005 and 2013, Slade was a member of the
executive committee and chief marketing and capital markets officer
for Flagstone Reinsurance, responsible for capital market
initiatives, including capital structure transactions and ILS, cat
bond and sidecar businesses, as well as investor relations and
firm-wide marketing.
"Third-party capital will continue to play a major role in our
industry and Markel has strategically positioned itself to be an
industry leader in the critically important ILS market," Slade
said. "I'm delighted to have the opportunity to build Lodgepine
into a substantial presence in the ILS asset market and a genuine
complement to Markel's Nephila and State National
capabilities."
Markel recently launched Lodgepine together with a reinsurance
company, Lodgepine Re. Lodgepine's initial product offering will be
the Lodgepine Fund, a property catastrophe retrocessional
investment fund ahead of the 2020 renewal period. The fund will
provide investors with access to property catastrophe retrocession
exposure via a single-entry point and platform, offering cedants a
suite of property retrocession products with the ability to have
coverage provided either on a collateralized basis, written by
Lodgepine Re, or on a rated paper basis written by Markel Bermuda
Limited, or a combination of both.
About Markel Corporation
Markel Corporation is a
diverse financial holding company serving a variety of niche
markets. The Company's principal business markets and underwrites
specialty insurance products. In each of the Company's businesses,
it seeks to provide quality products and excellent customer service
so that it can be a market leader. The financial goals of the
Company are to earn consistent underwriting and operating profits
and superior investment returns to build shareholder
value. Visit Markel Corporation on the web at
www.markel.com.
Disclaimer
Some of the statements in this release may
be considered forward-looking statements as defined in the Private
Securities Litigation Reform Act of 1995. Statements that are not
historical facts, including statements about Markel's beliefs,
plans or expectations, are forward-looking statements. These
statements are based on Markel's current plans, estimates and
expectations. There are risks and uncertainties that could cause
actual results to differ materially from those expressed in or
suggested by such statements. Markel assumes no obligation to
update this release (including any forward-looking statements
herein) as a result of new information, developments, or otherwise.
This release speaks only as of the date issued.
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SOURCE Markel Corporation