Markel merges Europe and international divisions
High Court approves merger designed to increase efficiency of European group.
Markel International and Markel Europe are to merge following approval by the High Court in London last week.
The merger will be effective from 1 July this year.
Markel said in a statement: "The purpose of the merger is to increase operational, regulatory and capital efficiency of Markel's European group."
Markel has reported a profit of $321,182 (£210,896) for 2014, compared with $281,021 in the previous year, which is an increase of 14%.
COR
Its combined operating ratio (COR) was 95% for the
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