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Markel's combined ratio tips up to 90%

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    • Andrew Pearce

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Markel International's combined ratio tipped up to 90% for the first six months of 2013, compared to 86% for the same period of 2012.

Markel also reported gross written premiums of $526m [£229.3m] for the six months ended 30 June 2013, in comparison to $514m last year.

Andy Davies, finance director at Markel International, commented, "We had a strong start to 2013 and, in line with our conservative reserving policy, continue to see favourable prior year reserve development.

"In addition, we had an excellent investment return of 2.7% for the six months, due to the strong performance of our equity portfolio."

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