Specialist insurer Markel International is set to enter the surety market in March, following the appointment of two senior underwriters in the surety and trade credit industries.
The business will initially focus on opportunities in the UK, Ireland and Continental Europe with the intention to expand to other regions outside North America. The new team will report to Ewa Rose, managing director of the trade credit, political risk and surety business.
Rose commented: "We established Markel's trade credit business in 2010 and introduced political risk and contract frustration capabilities at the beginning of last year. The addition of surety is a natural extension to our offering and provides a full range of complementary products across our portfolio.
"The new launch is in response to broker and client demand and we look forward to providing much needed capacity to the market. It also increases our ability to design new and exciting products by combining the skill sets and experience across our underwriting team."
Markel, Surety, UK, Ireland, Europe