Markel sells reinsurance renewal rights to Nationwide

[Puzzle, umbrella with the word REINSURANCE. insurance reform concept.]

Markel Group's (NYSE:MKL [https://seekingalpha.com/symbol/MKL]) insurance operations subsidiary completed the sale [https://seekingalpha.com/pr/20204237-markel-insurance-completes-agreement-to-sell-reinsurance-renewal-rights-to-nationwide]of the renewal rights for its Global Reinsurance business to Nationwide, a move to simplify operations and focus on its core specialty insurance markets, the company said on Monday.

Terms of the transaction weren't disclosed.

Nationwide will delegate the underwriting and management of all renewal policies included in the transaction to Ryan Re Underwriting Managers, a managing general underwriter of Ryan Specialty (RYAN [https://seekingalpha.com/symbol/RYAN]), through the expansion of their existing alliance.

Markel (NYSE:MKL [https://seekingalpha.com/symbol/MKL]) didn't sell any insurance company entities under the deal. With the closing of the transaction, the Global Reinsurance division entered runoff, with premiums continuing to earn out over the next two to three years, the company said.

The agreement for the deal was originally announced on July 30, 2023.

Markel (MKL [https://seekingalpha.com/symbol/MKL]) stock ticked down 0.1% in after-hours trading.

MORE ON MARKEL

* Markel: Still Undervalued While Insurance Performance Is Set To Improve [https://seekingalpha.com/article/4813558-markel-still-undervalued-while-insurance-performance-is-set-to-improve]
* Markel Group Inc. (MKL) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4808202-markel-group-inc-mkl-q2-2025-earnings-call-transcript]
* Markel Group: Focus On Specialty Is Positive For The Long Term [https://seekingalpha.com/article/4807938-markel-group-focus-on-specialty-is-positive-for-the-long-term]
* Markel Insurance gets new Asia-Pacific head [https://seekingalpha.com/news/4456420-markel-insurance-gets-new-asia-pacific-heads]