Markel Acquires Thompson Insurance Enterprises [Professional Services Close – Up]

Markel Corporation announced that it has completed the previously announced acquisition of Thompson Insurance Enterprises, a privately held Program Administrator underwriting multi-line, industry- focused insurance programs.

In a release, Mike Crowley, Markel's President and Co-Chief Operating Officer, said: "We welcome Thompson Insurance Enterprises's employees, agents and business partners to the Markel team. We look forward to building our businesses together."

Greg Thompson said: "In addition to Markel's substantial resources, we have been pleased to discover that Markel's culture and values echo our own. We are convinced that this acquisition will benefit both our customers and our staff."

Davis Fulkerson, Managing Partner of Century Capital Partners, a Boston-based private equity fund and minority investor in Thompson Insurance Enterprises, said: "We are thrilled that Thompson Insurance Enterprises and Markel, two organizations with stellar reputations and complementary cultures, have been able to consummate this transaction."

The Company noted Thompson Insurance Enterprises manages programs including Medical Transportation, Senior Living, Childcare Centers, Fitness Clubs, Pest Control Operators, Tanning Salons and Inflatable Rental Operators.

Thompson Insurance Enterprises will continue to operate as a separate business unit with Thompson and Bob Heaphey, Thompson Insurance Enterprises's current Chairman and President, respectively, leading the operation.

The operating unit will be a part of Markel Specialty.

BofA Merrill Lynch acted as financial advisor to Thompson Insurance Enterprises.

Markel Corporation is a financial holding company serving a variety of niche markets.

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