Markel International, the international property and casualty insurer, today announced the opening of its Spanish branch, Markel International España. The office was opened to an audience of 120 key Spanish professional liability brokers last week in Madrid.
Markel International España is a branch of Markel International Insurance Company Limited (MIICL), one of the two operating arms of Markel International. MIICL is licensed for insurance in all EU countries and has shareholders equity of $300m (approx. € 245m).
Markel International España will initially focus on five professional liability products covering:
- Directors & Officers
- Technical professionals (architects, builders, etc.)
- Occupational risk prevention staff
- Workers in charge of money transfers
- Other professionals (lawyers, auditors, etc.)
Esteban Manzano, branch manager of Markel International España, has a ten-year track record in the Spanish insurance market from his tenure at Global & Partners, the Spanish reinsurance broker, where he was a Senior Director.
Esteban said of Markel’s move into Spain: “Besides offering the professional services market a range of niche products, we believe our experience and world-class service will help Spanish brokers increase customer loyalty levels. I am very excited about the opportunities that exist for Markel in Spain, a market where significant growth over the short term is expected in all kinds of liability insurance products, especially directors and officers’ liability and professional liability in construction and engineering activities.”
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. Spain is an ideal territory for us. It has a thriving professional services sector and is receptive to the influx of foreign businesses.”
For further information contact:
Derah McCall
020 7953 6732