Markel sharpens focus on specialty insurance growth with Enstar reinsurance deal
ESGR•ESGR•ESGR•ESGR•Markel Group agreed to an adverse development cover with Enstar covering $4.8 billion in reserves for underwriting years 2025 and prior. Markel will pay a $120 million risk premium, and closing is expected by the fourth quarter of 2026, subject to regulatory approval.
Markel Group will use an adverse development cover reinsurance agreement with Enstar to support its focus on growing core specialty insurance. The agreement covers $4.8 billion in reserves across run-off global reinsurance and exited insurance lines; Markel will retain the first $2.6 billion of subject reserves and retrocede the next $2.3 billion to Enstar. Coverage totals $1.2 billion above subject reserves, with a $120 million risk premium payable to Enstar. Closing is expected by the fourth quarter of 2026, subject to regulatory approval, and the transaction’s net impact on quarterly underwriting results is expected to be immaterial.
