Markel reports improved GWP but combined ratio suffers
Markel International has reported gross written premiums (GWP) of $194.2m (£120.8m) for the third quarter of 2011, compared with $178.7m for the same period of 2010.
GWP was $676.9m for the nine months ended September 2011, up from $574m for the nine months ended September 2010.
Markel attributed this 18% growth to an increase in premiums at Elliott Special Risks, its Canadian operation, which was acquired in 2009.
The provider's combined operating ratio (COR) deteriorated to 99% for Q3 2011, (Q3 2010: 77%) giving a COR for first nine months of 2011 of 119%.
The figure was down on the performance in 2010 when Markel International achieved a COR of 99% in the
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