Markel completes sale of reinsurance renewal rights

Markel has completed the sale of the renewal rights for its global reinsurance business to Nationwide.

The transaction, which was announced on 30 July 2025, is part of Markel’s broader strategy to simplify operations and focus on the needs of its core specialty insurance markets.

Nationwide will delegate the underwriting and management of all renewal policies included in this transaction to Ryan Re Underwriting Managers.

Markel did not sell any insurance company entities as part of the transaction. The global reinsurance division, meanwhile, has entered runoff, with premiums continuing to earn out over the next two to three years.

Transaction terms have not been publicly disclosed.

“This move will sharpen our focus on doing more of what we do best so that we can grow our core specialty insurance business,” said Simon Wilson, chief executive at Markel Insurance.

“We are grateful to Nationwide and Ryan Re for being great partners throughout this transaction.”