Markel International, the international property and casualty insurer, has increased its commitment to the London market through the injection of an additional $50 million of capacity in Markel International Insurance Company Limited (MIICL), its London based insurance company. Following the increase, MIICL will have shareholders funds of approximately $300 million.

Richie Whitt, Executive Vice President and Chief Administrative Officer, said: “Markel is committed to growing its international business based in London. In our insurance company we have been successful in developing the business that meets our demanding underwriting criteria, by focusing on carrying risks for smaller and medium sized businesses. As well as increasing our capacity, this capital injection will strengthen our base for growing our business in the UK and in continental Europe. It will also support our objective of achieving an A rating for MIICL.”

Markel International also writes business in London through Markel Syndicate 3000 at Lloyd’s, which in 2005 will have a capacity of $270 million.

Gerry Albanese, President and Chief Operating Officer added: “2005 is Markel Corporation’s 75th Anniversary and marks the fifth year that Markel International has been established in London. Since our acquisition in 2000 we have made clear that Markel Corporation sees its London based international operations, both in Lloyd’s and in the London company market, as of increasing importance and we have invested over  $1billion in London. This level of investment is a real indication of our commitment to this market”


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 2003 of $ 738.4 million. It has five operating divisions writing business either through Markel Syndicate 3000 or through Markel International Insurance Company Limited. Markel Corporation is a US listed business, capitalised at around $3.5 billion, which in 2003 wrote gross premiums of $2.6 billion. www.markelintl.com