Markel International, the specialty property and casualty insurer, plans to double the size of its UK regional business, Markel (UK) Limited, through an aggressive development strategy which will combine increasing its branch network, making senior hires, launching new specialist products and developing new distribution systems and mechanisms.

Steve Carroll, Managing Director of Markel (UK) Limited made clear the company’s objectives. “ Over the last five years we have successfully grown the UK business base by a factor of three, so we know that there is a huge demand for the sort of service that we offer. We are now looking to double the size of the business and an important part of the plan is a programme of new office openings.”

The company will increase its regional underwriting network from the current four to a total of seven branches, adding representation in Cambridge, Edinburgh and Bristol. Markel (UK) Limited already has offices in Leeds, Manchester, Birmingham and Reigate.

Steve Carroll said:“ Brokers want to have a personal relationship with their insurer and the ability to deal with them face to face. Our strategy is to deal directly with the retail brokers using our own local people rather than appointing a network of regional wholesalers or underwriting agencies to represent us. By extending our branch network we aim to serve a wider range of customers without imposing unrealistic premium volume demands and, perhaps more importantly, to maintain a high level of service in our specialist areas. Employing the right people who buy-in to the Markel ‘culture’ is imperative and we have already hired a number of good staff who are both experienced and service orientated, each of whom will play a major role in the development of our regional business.”     

Other key elements in the development programme include the design of further specialist, packaged niche products, targeted at growing businesses and the development of additional forms of distribution, including ‘online’ capabilities with medium-term plans to integrate Markel’s involvement with provincial broker e-trading systems.

Steve Carroll commented “ We have been very successful in developing products, such as Employment Practices Liability, that really meet our customer’s needs and we will continue to look at ways of packaging insurance solutions for growing businesses. These are exciting times for us and we are committed to playing an increasingly important role in the UK regional market. The success we have achieved so far gives us confidence in the future.”

Ends

For further information:
Derah McCall
Markel International
020 7953 6732

Notes to editors:
1. Markel (UK) Limited underwrites Professional Risks, Management Risks and 'Specialty' Commercial Risks Insurance business on behalf of fellow Markel International divisions, Markel Syndicate 3000 at Lloyd’s and Markel International Insurance Company Limited.  
2. 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.
3. 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.