Markel International, the international property and casualty insurer, is planning to open for business in Spain, in its first move into continental Europe. The office opening further underlines Markel’s commitment to growing its international business.

Markel International España, which is to be based in Madrid, will be a branch of Markel International Insurance Company Limited (MIICL), which, following a capital injection of $50 m in January, has shareholders funds of $300m.

Markel’s Spanish business will initially focus on Professional Indemnity and Directors & Officers Liability, but will extend its product offering over time.

Esteban Manzano has been appointed branch manager, Spain.  Esteban has worked in the Spanish insurance market for almost ten years.  Esteban joins Markel from Global & Partners, the Spanish wholesale broker where he was a senior director.

Gerry Albanese, President and Chief Operating Officer of Markel International commented: “From its creation, Markel International has been committed to creating a genuinely international business, which is why Markel Corporation has invested $1 billion in the London-based operation over the last 5 years. Our expansion into Canada, announced earlier this month, and now into Spain evidences our intention to fulfil this commitment. Spain is an ideal territory for us. It has a thriving professional services sector and is receptive to the influx of foreign businesses.”

Esteban Manzano said: “ I am very excited about the opportunities that exist for Markel in Spain. As well as offering the professional services market a range of excellent products, our commitment to a high level of broker service will be well received in a market where carriers still expect to be looked after by the broker rather than the other way around”
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For further information contact:
Tamara Cutting
Media Relations Director
020 7953 6736

Notes to editors:
1. Markel International Limited is a specialty property and casualty insurer. Based in London and comprising the international operations of Markel Corporation, it wrote gross premiums in 2004 of $ 746 million. It has five operating divisions writing business either through Markel Syndicate 3000 or through Markel International Insurance Company Limited.
2. Markel Corporation markets and underwrites specialty insurance products and programs for a variety of niche markets.  In each of these markets, the Company seeks to provide quality products and excellent customer service so that it can be a market leader.  The financial goals of the Company are to earn consistent underwriting profits and superior investment returns to build shareholder value.