Insurer - Markel International Ltd

COMPANY NAME: Markel International Ltd
ADDRESS: The Markel Building, 49 Leadenhall Street, London EC3A 2EA
TEL NO: 020 7953 6000
FAX NO: 020 7953 6001
E-MAIL: Contact through websites
WEBSITES: www.markelintl.com
www.markelcorp.com
MAIN LINES OF BUSINESS: Markel International has six operating divisions:
- Reinsurance and accident
- Non-marine property
- Professional liability
- Aviation
- Marine and energy
- Markel (UK) Ltd.
Markel International operates through two commercial entities. One is Markel International Insurance Company (MIICL), a London-based insurance company, which also runs Markel (UK), a dedicated entity supporting brokers in four UK regional centres. The other is Markel Syndicate 3000, a wholly-owned corporate syndicate at Lloyd's that was launched in 2002 after a merger of syndicates.

FINANCIAL STATISTICS:At 30 September 2003, Markel International Insurance Company had shareholders' funds of approximately $230m and Markel Syndicate 3000 had a capacity of $416m. In the nine months to 30 September 2003, Markel International wrote $549m of gross premiums, an increase of 18% over the $467m written in 2002.For the nine months of 2003, the continuing business of Markel international achieved a combined ratio of 102% (108% in 2002) the eighth consecutive quarter in which the ratio has fallen.Markel International Insurance Company Ltd has an A- (excellent) AM Best rating and an A- Fitch (high) rating, both with a stable outlook.Markel Syndicate 3000 attracts a rating in line with Lloyd's as a whole, while its policyholders also benefit from the additional security of the Lloyd's central fund. Currently ratings are: AM Best A- (excellent); Standard & Poors's A (strong); and Fitch A- (high).

KEY CONTACTS:Gerry Albanese, president and chief operating officerRichie Whitt, executive vice president and chief administrative officerAndrew Davies, finance director

NUMBER OF STAFF:Markel International employs 453 staff in the UK.

UK OFFICESAs well as its headquarters in London, Markel's retail business is run through regional offices in Leeds, Birmingham, Manchester and Reigate.

COMPANY HISTORY:Markel International Ltd is the London-based subsidiary of Markel Corporation, the international property and casualty insurance company with headquarters in Richmond, Virginia. Markel Corporation wrote gross premiums of $2.2bn (£1bn) in 2002 and has a market capitalisation of approximately $2.5bn.MIICL is licensed for insurance in all EU countries, as well as having a surplus lines licence in 48 US states. MIICL is also an accredited reinsurer in 44 US statesMIICL can also write insurance in a number of other overseas territories and reinsurance in most countries around the world.Fundamental to Markel's strategy is its long-term commitment to underwriting profitably throughout the insurance cycle. This commitment is driven, throughout the group's companies, by attention to underwriting disciplines which focus on writing well-understood risks at the right price and refusing to offer cover merely to achieve volume targets. Profitable underwriting combined with superior investment returns will build shareholder value.

DID YOU KNOW?:Markel International has improved its combined ratio for its continuing operations over the past eight consecutive quarters. For the nine months to 30 September 2003 the ratio was 102%. For the three months to 30 September, 2003, the combined ratio was 101%. Reflecting this performance Fitch Rating recently increased the rating for Markel International Insurance Company Ltd to A - (high credit quality), stable outlook, from BBB+.