Markel signs reinsurance agreement with Enstar to cover legacy business losses
Bitget2026/10/28 21:18- Markel Group's insurance unit signed an adverse development cover reinsurance agreement with Enstar covering run-off reinsurance and exited insurance lines.
- The agreement covers $4.8 billion of reserves for underwriting years 2025 and prior; the insurer will retain the first $2.6 billion.
- Enstar will receive the next $2.3 billion of reserves, with a risk premium of $120 million.
- The deal provides $1.2 billion of adverse loss development coverage above the subject reserves.
- Closing is expected by the end of the fourth quarter of 2026, subject to regulatory approval and customary conditions.
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