Markel Corporation has received a subpoena from the New York office of the US Securities and Exchange Commission (SEC).

The SEC is seeking information about its transactions with Toronto-based Fairfax Financial Holdings. The inquiry is to focus on Markel transactions in Fairfax stock and about any non-traditional reinsurance deals between the companies.

Markel said it "does not believe" it has entered any non-traditional contracts with Fairfax, which itself was subpoenaed by the SEC earlier this year.

In January, Markel sold a reinsurance unit, Corifrance, to a Fairfax subsidiary.