Business
Markel Insurance completes agreement to sell reinsurance renewal rights to Nationwide
Markel Insurance, the insurance operations within Markel Group Inc. (NYSE: MKL), has completed the sale of the renewal rights for its Global Reinsurance business to Nationwide. This transaction was previously announced on July 30, 2025, and is part of Markel's broader strategy to simplify operations and focus on the distinct needs of its core specialty insurance markets.
About this update from Markel Group Inc.
[{"type":"text","content":"RICHMOND, Va., Aug. 18, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE: MKL), has completed the sale of the renewal rights for its Global Reinsurance business to Nationwide. This transaction was previously announced on July 30, 2025, and is part of Markel's broader strategy to simplify operations and focus on the distinct needs of its core specialty insurance markets.","length":420,"tagName":"p"},{"type":"image","alt":"Markel logo (PRNewsfoto/Markel)","displaySize":"","headline":null,"caption":"Markel logo (PRNewsfoto/Markel)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":299,"url":"https://media.zenfs.com/en/cnwgroup.com/ba6f39925b18309448cf1be1982899e0"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/N6tasBZWx0qJOTS5mI.hmw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTUyNztjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/ba6f39925b18309448cf1be1982899e0","width":400,"height":299}},"href":"https://mma.prnewswire.com/media/2090808/Markel_primary_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Nationwide will delegate the underwriting and management of all renewal policies included in this transaction to Ryan Re Underwriting Managers ("Ryan Re"), a managing general underwriter of Ryan Specialty (NYSE: RYAN), through the expansion of their existing strategic alliance. Markel did not sell any insurance company entities as part of the transaction, and Markel's Global Reinsurance division has entered runoff, with premiums continuing to earn out over the next two to three years.","length":503,"tagName":"p"},{"type":"text","content":""This move will sharpen our focus on doing more of what we do best so that we can grow our core specialty insurance business," said Simon Wilson, Chief Executive Officer of Markel Insurance. "We are grateful to Nationwide and Ryan Re for being great partners throughout this transaction."","length":308,"tagName":"p"},{"type":"text","content":"Transaction terms have not been publicly disclosed.","length":51,"tagName":"p"},{"type":"text","content":"About Markel InsuranceWe are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capab...