Markel unveils brand refresh after 93-year transformation
Global insurer Markel, a business with close to a century-old legacy, is embarking on a brand refresh to bring “greater definition around the nature of holding company”, highlighting its three engines: insurance, investments, and a diverse group of businesses under Markel Ventures.
Markel Corporation has changed its name to Markel Group.
The company will continue to trade on the New York Stock Exchange under the stock ticker symbol MKL, and its global specialty insurance business will continue to operate under the name Markel, as it has for nearly a century. Markel does not anticipate the changes to result in significant structural or organisational impacts.
Founded in 1930 by Samuel Markel, the Richmond, Virginia-based company expanded into specialty internationally in 2000 through the Terra Nova Holdings acquisition, opening its London office. Branch offices followed in the UK, Europe, Asia Pacific, and Canada. Markel further bolstered its insurance divisions with the $3.1 billion acquisition of Alterra Capital Holdings, introducing Markel Global and Markel Reinsurance. Strategic moves continued with the 2015 acquisition of CATCo and the 2018 acquisition of Nephila Capital. Now a Fortune 500 company, Markel has 67 offices in 20 countries and is led by chief executive officer Tom Gayner (pictured).
"Over the last 93 years, Markel has evolved from a regional transportation insurer to a global Fortune 500 family of companies and investments," said Gayner.
"Given the nature of this evolution, we have used the name Markel to refer both to our specialty insurance business and our holding company. This new name for our entire group of companies will help us create greater clarity as we continue to grow each of our three engines."
"We chose the name Markel Group because even though we have many different businesses powered by 20,000 people around the globe, we are all part of the same team and we share the values of the Markel Style," Gayner explained. "Together, our three engines form a connected system that is uniquely equipped to help our customers, colleagues, and shareholders win in the long term."
Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.
