Markel Advances Strategic Focus on Specialty Insurance, Announces Adverse Development Cover Reinsurance Agreement with Enstar on Reinsurance Business
Markel Insurance entered an adverse development cover reinsurance agreement with Enstar covering $4.8 billion of subject reserves from its run-off Global Reinsurance business and exited insurance lines for underwriting years 2025 and prior. Markel retains the first $2.6 billion, retrocedes $2.3 billion to Enstar, and buys $1.2 billion of coverage above subject reserves for a $120 million risk premium; closing is expected by end of Q4 2026 pending regulatory approval.
Key figures
- Deal Value Usd
- 4800000000
- Risk premium
- 120000000
- Subject reserves
- 4800000000
- Retained reserves
- 2600000000
- Retroceded reserves
- 2300000000
- Adverse development coverage
- 1200000000
AI analysis
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