Markel plans retreat from casualty treaty

Markel is reviewing its casualty treaty underwriting.

The insurer has told brokers it is no longer accepting new business and is reviewing whether it will continue in the class.

Chief executive Jeremy Cooke said: "We've put a hold on casualty treaty underwriting and we're reviewing whether it's a class we want to stay in. Over the last ten years it hasn't performed well, but this is less about current results than about the longer term."

Markel tended not to be lead underwriter in the class, which produced about $10m to $15m (£6.3m to £9.5m) of premium a year, he said.

The company will continue to write property treaty business.