Markel improves COR by 5%
Markel International has reported a combined operating ratio (COR) of 92% for the first quarter of 2013, compared with 97% in the same period of last year.
The insurer attributed this improvement to lower attritional losses on the current accident year, as well as a 3% impact on the 2012 COR due to the company’s adoption of different accounting standards.
Gross written premium for Q1 2013 was $296m (£190m), up from $278m in Q1 2012.
Alan Kirshner, chairman and CEO of Markel Corporation, said: “We are off to an excellent start in 2013. Strong underwriting results for the quarter reflect our long-term focus on underwriting discipline.”
He added: “The
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