Markel International, the specialty property and casualty insurer, today welcomed confirmation of Moody’s B+ Above Average syndicate performance rating of it’s Lloyd’s Syndicate, Markel Syndicate 3000.

Gerry Albanese, President and Chief Operating Officer, commented: “The re-confirmed Moody’s rating recognises the disciplined approach we take to underwriting and the top quartile results we have seen to date.  We are confident that we can continue to improve performance by the application of our proven management disciplines.”

Moody’s said of Markel’s performance “Given the prudent reserving approach adopted and the benefit of significant reserves relative to stamp capacity, together with the conservative approach to reinsurance purchasing and the improved management controls imposed by Markel, it is likely that the syndicate should outperform the market over the cycle and give above average continuity prospects for policyholders.

The B+ Above Average rating is based on Markel senior management’s commitment to the lines of business currently written via the Lloyd’s syndicate and reflects the expectation that management controls will be rigorously applied to avoid the worst of any future insurance downturn.”
 
Markel Corporation, the ultimate parent for Markel International Insurance Company Limited and Markel Syndicate 3000, will announce earnings figures for the first quarter of 2005 on May 3rd, 2005.

Ends

For further information:
Derah McCall
Markel International
020 7953 6732

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.