Markel International has stopped writing aviation risks

The company said the decision was due to the deterioration in aviation rates coupled with increased capacity in the market.

As a result of these factors, it said that "opportunities for making the level of underwriting profit we demand have narrowed".

In a statement the company said: "While the aviation division has consistently produced an underwriting profit for Markel, it has always been a small part of our business and we have always been small players in the London market."