Markel soars to profit

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