Markel International, London, January 17, 2017 --- Markel International, the specialist insurer which leads the Lloyd’s livestock consortium, has extended the consortium’s aggregate capacity by signing up Beazley as a fifth member.
With co-founders Tokio Marine Kiln, Pembroke and AEGIS London, Markel established the consortium in July 2016 to offer larger single risk capacity than that usually available in the livestock market. The need reflected the growing scale and value of farms and their livestock internationally, as well as the increasing incidence of pandemic risks, such as avian ‘flu and foot and mouth disease.
The consortium offers cover of up to $30 million, per location, for livestock risks.
In its first five months, writings have exceeded those forecast in the original business plan, showing strong market support for what the consortium offers.
Robert Wells, senior underwriter, global livestock, Markel International, commented: “We had a successful launch in the second half of last year, which fully supported our belief in the consortium’s underlying proposition and encouraged us to welcome additional aggregate capacity from Beazley. We are looking forward to our first full year in business, confident in our ability to meet the growing needs of brokers and their clients.”
For more information:
Michael Henman, Director of Communications + 44 (0)20 7953 6000
Josephine Dencker, PR & Marketing Executive + 44 (0)20 7953 6000
About Markel International:
Markel International Limited is a subsidiary of Markel Corporation, a US-based holding company trading on the New York Stock Exchange (MKL). Markel International writes insurance and reinsurance business through eight divisions and through offices across the UK, Europe, Canada, Latin America and Asia Pacific. Markel International’s insuring entities include Syndicate 3000, Markel Resseguradora do Brasil S.A. and Markel International Insurance Company Limited. Markel International also manages the business of Abbey Protection Group which provides legal and professional fees insurance cover as well as legal, tax and human resources consultancy services. For more information please visit us at www.markelinternational.com
Beazley plc (BEZ) is the parent company of specialist insurance businesses with operations in Europe, the US, Latin America, Asia, the Middle East and Australia. Beazley manages six Lloyd’s syndicates and, in 2015, underwrote gross premiums worldwide of $2,080.9 million. All Lloyd’s syndicates are rated A by A.M. Best.
Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business. For more information please go to: www.beazley.com