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RICHMOND - Markel Insurance, the insurance operations of Markel Group Inc. (NYSE:MKL), a $24.36 billion market cap insurer with a "GREAT" financial health rating according to InvestingPro, announced Monday it has completed the sale of renewal rights for its Global Reinsurance business to Nationwide, a transaction initially disclosed on July 30.
The deal is part of Markel’s strategy to streamline operations and concentrate on its core specialty insurance markets, where it maintains strong profitability with a 50.62% gross margin. No insurance company entities were sold as part of the agreement, and financial terms were not disclosed.
Under the arrangement, Nationwide will delegate the underwriting and management of all renewal policies to Ryan Re Underwriting Managers, a managing general underwriter of Ryan Specialty (NYSE:RYAN), through an expansion of their existing strategic alliance.
Markel’s Global Reinsurance division has entered runoff status, with premiums expected to earn out over the next two to three years.
"This move will sharpen our focus on doing more of what we do best so that we can grow our core specialty insurance business," said Simon Wilson, Chief Executive Officer of Markel Insurance, according to the company’s press release.
The transaction represents a significant step in Markel’s business realignment as it concentrates resources on its specialty insurance operations, which the company has identified as its primary growth area.
In other recent news, Markel Group Inc. reported its second-quarter 2025 earnings, surpassing analysts’ expectations. The company posted an earnings per share (EPS) of $49.67, which was significantly higher than the forecasted $24.9, resulting in a surprise of nearly 99.48%. Although there was a slight miss in revenue expectations, these earnings results reflect strong operational performance. This development has generated positive sentiment among investors. The earnings announcement is part of a series of recent developments concerning the company. While the revenue figures were not disclosed, the impressive EPS performance has been a focal point for analysts and investors alike. The company continues to attract attention with its financial results.
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