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At closing, each
Upon closing, two directors designated by
Strategic and financial attributes associated with the combination of Markel and
The combination of Markel and
Enhanced size and scale: Following the close of the transaction, Markel is expected to write annual gross premiums of approximately
Strong and well diversified franchise: Complementary business profiles provide important diversification of risk, with Markel adding reinsurance and large-account insurance to its specialty insurance portfolio. Following the close of the transaction, Markel's business is expected to be approximately 50% short-tail, 50% long tail; 67% insurance and 33% reinsurance.
Common cultures of underwriting discipline: The merger brings together seasoned and accomplished underwriting teams with limited overlap in diverse specialty insurance and reinsurance lines.
Strong investment performance: Markel brings a long and successful track record of investment outperformance. This expertise can now be applied to the combined entity's investment portfolio of over
Citigroup acted as financial advisor to Markel and
Conference Call and Webcast:
The details of the call are as follows:
Toll-free number (U.S. callers): 1-877-407-9205
International callers: 1- 201-689-8054
Please dial in five to ten minutes prior to the start of the call.
INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS
This release includes statements about future economic performance, finances, expectations, plans and prospects of
This release contains certain forward-looking statements within the meaning of the U.S. federal securities laws. Statements that are not historical facts, including statements about
Risks and uncertainties relating to the proposed transaction include the risks that: (1) the parties will not obtain the requisite shareholder or regulatory approvals for the transaction; (2) the anticipated benefits of the transaction will not be realized or the parties may experience difficulties in successfully integrating the two companies; (3) the parties may not be able to retain key personnel; (4) the conditions to the closing of the proposed merger may not be satisfied or waived; (5) the outcome of any legal proceedings to the extent initiated against
ADDITIONAL INFORMATION ABOUT THE PROPOSED MERGER AND WHERE TO FIND IT:
This release relates to a proposed transaction between
PARTICIPANTS IN THE SOLICITATION: