Fitch Ratings has upgraded the financial strength rating of Markel International Insurance Company (MIICL) to A- (high credit quality) from BBB+. MIICL is Markel International's London company market operation.
Fitch said the outlook was stable.
Markel said the upgrade followed improved underlying operating performance in 2003, with MIICL achieving a combined ratio of 99% for the first nine months of 2003, excluding asbestos reserve strengthening.
