RICHMOND, Va., July 18, 2018 /PRNewswire/ -- Markel
Corporation (NYSE: MKL) announced today that it has been granted a
license by BaFin, the German federal financial supervisory
authority, to establish an insurance company in Germany.
Following Brexit, the United
Kingdom's exit from the European Union, Markel Insurance SE
(MISE) will be able to meet the insurance needs of clients located
or with risk exposures in the European Economic Area (EEA).
Richard R. Whitt, Co-Chief
Executive Officer of Markel Corporation, said, "We have global
growth ambitions for our business and strengthening our position in
continental Europe. Establishing
our German insurance company will contribute to our success in the
region."
William Stovin, President of
Markel International, said, "MISE isn't just about securing our EEA
business after Brexit. It's also an important strategic step which
underlines our ambitions to become a substantially larger player in
the European market."
About Markel International
Markel International
Limited is a subsidiary of Markel Corporation, a US-based holding
company trading on the New York Stock Exchange (NYSE: MKL). Markel
International writes insurance and reinsurance business through six
divisions and through offices across the UK, Europe, Canada, Latin
America and Asia Pacific.
Markel International's insuring entities include Syndicate 3000,
Markel Resseguradora do Brasil S.A. and Markel International
Insurance Company Limited. Markel International also manages the
business of Abbey Protection Group which provides legal and
professional fees insurance cover as well as legal and tax
consultancy services. Please tell us if you no longer want to
receive communications from us. For more information please visit
us at www.markelinternational.com
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
markelcorp.com.
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SOURCE Markel Corporation