Markel snaps up Le Centaure

Markel International is to acquire Le Centaure, a French equine insurance broker and cover holder based near Deauville, Normandy.

The acquisition of Le Centaure comes one year after the official launch of Markel International’s equine division.

Le Centaure provides coverage for a broad range of equine and livestock risks arising predominantly in France, such as mortality, infertility, and equine-related property and liability.

Markel said the acquisition gives it a strong position in France. In 2009, Le Centaure's gross premium income was approximately $6m.

Markel' association with Le Centaure has been developed over a number years by Julian Bowen-Rees and Juliet Redfern, the equine division’s managing director and senior underwriter respectively, and currently underwrites 95% of its business.

Redfern said: “The acquisition cements our already strong and fruitful relationship with Le Centaure, and is a logical step in developing our global equine business. We look forward to building on this success and expanding our interests in France.”

Le Centaure principal Christophe German added: “We are proud to join such a highly respected and innovative insurance brand, with a culture based on respect and excellence. Markel is a strong company with A rated financial security and which has been in existence since 1930 and is listed on the New York Stock Exchange.

“With Markel’s support I am sure we will increase our market share in France and throughout Continental Europe and enhance the reputation we have established over the last 17 years.”