Markel International has welcomed Standard & Poor's upgrade of Markel Syndicate 3000, its Lloyd's syndicate, from LSA 2pi to LSA 3pi.
Andy Davies, Finance Director, Markel International commented: “The upgrade of our syndicate recognises the disciplined approach we take to underwriting and the top quartile results we have seen to date. We are confident that we can continue to improve performance by the application of our proven management disciplines.”
Standard & Poor's stated: “the upgrade reflects the syndicate's improved operating performance for the 2002 YOA, strong forecast results for 2003 and 2004 and reducing reliance on reinsurance.“
