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TORONTO - Markel Insurance, part of Markel Group Inc. (NYSE:MKL), a $25 billion market cap insurance giant with "GREAT" financial health according to InvestingPro, announced on Tuesday the introduction of three new primary insurance policies for the Canadian market: Cyber 360 Canada, Tech 360 Canada, and Fintech 360 Canada.
The Cyber 360 Canada policy offers standalone cyber coverage with pre-breach services developed in partnership with industry experts. Tech 360 Canada provides a modular insurance solution for technology companies, allowing clients to combine Technology Errors and Omissions coverage with Cyber coverage and Management Liability under a single policy. With a strong current ratio of 2.6 and annual revenue exceeding $16.4 billion, Markel demonstrates the financial strength to support these new initiatives.
Fintech 360 Canada, which builds on Markel’s existing fintech policy, is tailored specifically for financial technology organizations. It offers customizable coverage options including Cyber Liability, Management Liability, Theft and Crime coverage, and Fintech Errors and Omissions protection.
As part of its offering, Markel Canada is partnering with various specialists including breach coach service providers, forensic firms, data restoration companies, and ransom negotiators to provide 24/7 support services for clients.
"We are thrilled to introduce our new suite of Canada 360 products," said Ed Rawe, Assistant Vice President, Cyber at Markel. "This launch reflects our commitment to understanding the dynamic needs of our clients and providing them with comprehensive solutions."
The announcement comes as cyber threats continue to evolve in the Canadian market. According to the press release statement, the new policies are designed to address these evolving threats while ensuring protection for clients now and in the future.
Markel Canada Limited operates as a division of Markel International Services Limited and writes business in Canada on behalf of Markel Syndicate 3000 at Lloyd’s. Trading near its Fair Value with a P/E ratio of 11.8, Markel presents an interesting opportunity for investors. Discover more detailed analysis and 6 additional key insights about Markel through InvestingPro’s comprehensive research reports, available for over 1,400 US stocks.
In other recent news, Markel Group Inc. reported its second-quarter 2025 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $49.67, nearly doubling the forecasted $24.9. This remarkable performance represents a 99.48% surprise, despite a slight revenue miss. In a strategic move, Markel Insurance completed the sale of renewal rights for its Global Reinsurance business to Nationwide. This transaction aligns with Markel’s focus on streamlining operations and concentrating on core specialty insurance markets. Additionally, Markel Insurance appointed Alain Paris as Vice President, Product Line Leader for Primary Casualty. Paris will oversee the Primary Casualty product line across Canada, working to meet profit targets and support expansion. These developments reflect Markel’s ongoing efforts to refine its business strategy and leadership framework.
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