#USA #Nationwide #Richmond #Markel Insurance #Ryan Re

Markel Insurance Completes Major Transaction with Nationwide

Richmond, VA - August 18, 2025
Markel Insurance, a division of Markel Group Inc. (NYSE: MKL), has finalized a significant agreement to sell the renewal rights of its Global Reinsurance business to Nationwide. This announcement follows their earlier communication on July 30, 2025, and illustrates Markel's commitment to refining its operations by concentrating on its core specialty insurance markets.

In this arrangement, Nationwide will entrust the underwriting and oversight of the included renewal policies to Ryan Re Underwriting Managers, a managing general underwriter that operates under Ryan Specialty (NYSE: RYAN). This partnership marks an enhancement of their existing strategic alliance, highlighting a collaborative approach towards insurance management.

It's important to note that this transaction does not involve the sale of any insurance company entities. Markel's Global Reinsurance division is currently in runoff, meaning that premiums from existing policies will continue to provide returns over the next two to three years, ensuring a gradual wind-down.

Simon Wilson, the CEO of Markel Insurance, commented on this pivotal move, stating, “This initiative will sharpen our focus on what we do best, allowing us to expand our core specializations within the insurance realm.” He expressed gratitude towards both Nationwide and Ryan Re for their valuable partnership throughout the transaction.

The terms of the deal have not been disclosed publicly, which is often the case with transactions of this nature where strategic business considerations take precedence over financial details.

About Markel Insurance

Markel Insurance stands out as a leading global specialty insurer that prioritizes a people-first methodology in its operations. As a part of Markel Group Inc. (NYSE: MKL), the company utilizes a diverse range of capabilities and expertise to develop intelligent solutions that cater to the most intricate specialty insurance requirements. At the core of their success lies the meaningful relationships forged among colleagues, brokers, and clients worldwide, distinguishing Markel in a competitive landscape.

Looking Ahead

This move to divest reinsurance renewal rights is seen as a strategic alignment for Markel Insurance as it aims to strengthen its operational focus on specialty insurance. By doing so, the company can streamline its processes and direct more resources towards fulfilling the specific needs of its clientele in core markets. As the insurance industry continues to evolve, such transactions reflect a proactive approach to adapting and thriving amid changing market dynamics.

While the long-term impacts of this transaction will unfold over the coming years, for both Markel and Nationwide, this partnership could pave the way for future opportunities and innovations within the insurance sector. Insurers who adeptly manage their resources and partnerships often find themselves at an advantage in navigating the complexities of the insurance landscape, and Markel’s strategic move could be a case in point.

Forward-Looking Statements
Certain remarks in this announcement are classified as forward-looking statements under the Private Securities Litigation Reform Act of 1995. These elements, distinct from historical facts, reflect Markel's present beliefs, plans, or anticipations, set against potential risks and uncertainties that could significantly impact results in reality.