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Canada the “right fit”, says Markel International CEO


March 3, 2005   by Canadian Underwriter


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The Canadian market was “the right fit” to become the newest office established by Markel International, says the company’s CEO.
Gerry Albanese says the decision to establish MINT Canadian Specialty Underwriters (MCSU) was based on several factors. “We like the location,” he explains. “It’s a sophisticated economy, a growing economy. Our products fit right in there. And, it’s a large market.”
The Canadian office will write business through Markel Syndicate 3000 at Lloyd’s, with the aim of expanding its product base over time to take advantage of the large number of products written by Markel in both the U.K. and U.S., he notes. Early offerings will include errors and omissions (E&O) and other third-party liability covers.
Markel International’s products are geared to a more “service-based”, and thus sophisticated economy such as exists in Canada, Albanese explains. And MCSU’s expansion will be driven by market demand here.
MCSU will also borrow expertise from the company’s U.S. operations, based in Richmond, Virginia. Barrett Hubbard will make the move north o the border to lead the new office, with Rob Lees heading up underwriting in Toronto.
The new office is set to open this summer.