Markel to Acquire State National
Markel announced that it will acquire State National in a deal valued at $919 million. From a strategic point of view, the acquisition makes some sense. State National provides collateral protection insurance for auto lenders and program services, in which it essentially acts as a middleman for reinsurers looking to provide capacity in specific commercial lines. Overall, the business has a specialty bent, which looks to be a good fit with Markel’s existing business and underwriting strategy. Fur...Markel is a financial holding company. The company's business operations are: Underwriting, which comprised of risk-bearing insurance and reinsurance operations; Investing, which is primarily related to underwriting operations; Markel Ventures, Inc., includes controlling interests in a portfolio of businesses that operate outside of the specialty insurance marketplace; Insurance-linked securities, which include investment fund managers that provide investment products, including insurance-linked securities, catastrophe bonds, insurance swaps and weather derivatives; and Program services, which serves as a fronting platform that provides access to property and casualty insurance market.
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