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AM Best Comments on Credit Ratings of Markel Corporation and Its Subsidiaries

December 7, 2018

OLDWICK, N.J.--(BUSINESS WIRE)--Dec 6, 2018--AM Best has commented that the Credit Ratings (ratings) of Markel Corporation [NYSE: MKL] (headquartered in Richmond, VA) and its insurance operating subsidiaries are unchanged by the company’s statement that it is fully cooperating with inquiries received from U.S. and Bermuda authorities regarding loss reserves recorded at Markel CATCo Investment Management Ltd. and its subsidiaries in late 2017 and 2018. The inquiry does not involve any other Markel Corporation companies, including any subsidiary rated by AM Best. Markel has retained outside counsel to conduct an internal review.

No rating actions are being taken at this time as the information available does not warrant any such action. AM Best will continue to monitor the situation and take rating action if it becomes appropriate.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view .

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit for more information.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181206006042/en/

CONTACT: Jennifer Marshall, CPCU, ARM

Director

+1 908 439 2200, ext. 5327

jennifer.marshall@ambest.comChristopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.comMichael Lagomarsino, CFA, FRM

Senior Director

+1 908 439 2200, ext. 5810

michael.lagomarsino@ambest.comJim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

KEYWORD: UNITED STATES EUROPE NORTH AMERICA NEW JERSEY VIRGINIA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE INSURANCE

SOURCE: AM Best

Copyright Business Wire 2018.

PUB: 12/06/2018 07:11 PM/DISC: 12/06/2018 07:11 PM

http://www.businesswire.com/news/home/20181206006042/en

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