Markel International achieves huge improvement in Q1 COR
Markel International has delivered $277.6m (£141.3m) of GWP in the first quarter of 2012, a 9% increase on the same period last year ($255m).
The insurer's combined operating ratio (COR) came in at a much improved 94% compared to the 152% it produced in the first quarter of 2011.
The increase in GWP was attributed to the insurer's marine and energy division, which achieved improved pricing and organic growth, while the improvement in COR was put down to lower attritional loss and expense ratios, favourable prior year development and a benign catastrophe environment compared to the first quarter of 2011.
Andy Davies, finance director
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