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Markel reports improved COR and GWP

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Markel International has reported gross written premiums (GWP) of $705m [£442m] for the nine months ended September 30, up 4% from $677m for the same period of 2011.

The insurer's combined operating ratio improved dramatically to 86% for the period, from 119% the year before.

The provider said that the increase in GWP was primarily due to an increase in premiums at the marine and energy and specialty divisions, which had benefited from an improved pricing environment and organic growth.

And it stated that the improvement in the combined ratio was a consequence of a lower current accident year attritional loss ratio, an increase in favourable development on

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