Markel soars to profit
Markel International has reported a combined operating ratio (COR) of 84% for the six months ended 30 June 2012 compared to 130% for the same period of 2011.
The provider also achieved underwriting profits and investment returns of $171m [£109.3m] for the start of 2012.
Markel International said the improvement in the COR was a consequence of a lower current accident year attritional loss ratio along with an increase in favourable development on prior year loss reserves and a benign catastrophe environment compared to the first half of 2011.
It noted that the COR excluded $10m, or 3 points of underwriting, acquisition and insurance expenses, related
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