Markel ‘Fully Cooperating’ With Inquiries

December 7, 2018

Markel Corporation [MKL] said that after being contacted on November 30, 2018, it is “fully cooperating with inquiries by US and Bermuda authorities into loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd and its subsidiaries.”

“These inquiries are limited to Markel CATCo Investment Management Ltd and its subsidiaries and do not involve other Markel Corporation companies. Outside counsel has been retained to conduct an internal review. The company has no further statement at this time,” the company said.

AM Best said the Credit Ratings of the Richmond, Virginia-based Markel Corporation and its insurance operating subsidiaries are “unchanged by the company’s statement that it is fully cooperating with inquiries received from U.S. and Bermuda authorities regarding loss reserves.”

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