Canadian Underwriter

Markel looking to develop trade credit and political risk business in Canada

March 29, 2017   by Canadian Underwriter

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Specialist insurer Markel International announced on Wednesday that it is seeking to develop its trade credit and political risk business in Canada.

Business will be underwritten by Markel Canada on Lloyd’s syndicate 3000 paper, Markel International said in a statement.

The move reflects the successful development of Markel’s trade credit and political risk business expansion in New York, the specialist insurer suggested in the statement. The New York expansion is headed by Phil Amlot and supported by the appointments last year of Arjan van de Wall, business development director, and Howard Lee, senior underwriter.

“We have strong links to the Canadian broking community and we are now able to meet the local needs of national and multinational clients,” Ewa Rose, managing director of Markel’s trade credit, political risk and surety division, said in the statement. “We will work closely with our broker partners to offer their clients the full range of our trade credit and political risk solutions with the security of a Lloyd’s policy.”

Markel Canada, established in 1966, with offices in Toronto, Montreal, Calgary and Vancouver, will develop business opportunities through its network of Canadian brokers in close cooperation with its specialized trade credit and political risk underwriters in London and New York, the statement said.

Markel International Limited is a subsidiary of Markel Corporation, a Glen Allen, Va.-based holding company trading on the New York Stock Exchange. Markel International writes insurance and reinsurance business through six divisions and through offices across the United Kingdom, Europe, Canada, Latin America and Asia Pacific. Markel International’s insuring entities include Syndicate 3000, Markel Resseguradora do Brasil S.A. and Markel International Insurance Company Limited. Markel International also manages the business of Abbey Protection Group, which provides legal and professional fees insurance cover as well as legal, tax and human resources consultancy services.