A.M. Best has assigned a Financial Strength Rating of A
(Excellent) and a Long-Term Issuer Credit Rating of “a+” to Markel
Insurance SE (Germany), the ultimate parent of which is Markel
Corporation (Markel). Markel Insurance SE is a member
of Markel’s lead rating unit, Markel North America Insurance Group.
The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect Markel North America Insurance Group’s balance sheet
strength, which A.M. Best categorises as strongest, as well as its
adequate operating performance, favourable business profile and
appropriate enterprise risk management. The ratings also reflect Markel
Insurance SE’s strategic importance to and integration within the Markel
group, in addition to the substantial reinsurance support the company
receives from an affiliate.
Markel Insurance SE, which is domiciled in Germany, enables the group to
continue to service policyholders across the European Economic Area
(EEA) regardless of the terms of the United Kingdom’s exit from the
European Union. The company received regulatory approval from BaFin, the
German Federal Financial Supervisory Authority, on 17 July 2018. Markel
group’s existing EEA business, currently underwritten by Markel
International Insurance Company Limited, will be written by Markel
Insurance SE on renewal.
Markel Insurance SE benefits from significant internal reinsurance
support in the form of a 90% quota share after third-party reinsurance
from Markel Bermuda Limited, an affiliated company.
This press release relates to Credit Ratings that have been published
on A.M. Best’s website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best’s Recent
Rating Activity web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view Understanding
Best’s Credit Ratings. For information on the proper media
use of Best’s Credit Ratings and A.M. Best press releases, please view Guide
for Media – Proper Use of Best’s Credit Ratings and A.M. Best Rating
Action Press Releases.
A.M. Best is the world’s oldest and most authoritative insurance
rating and information source. For more information, visit www.ambest.com.
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.
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