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Of Markel and milestones
William Stovin, president and chief operating officer, reviews Markel International's first decade and highlights the
strengths of the Markel brand.
This year represents a milestone for Markel International. Created in March 2000, we are celebrating our 10th anniversary and have
witnessed unprecedented challenges in our industry over the last decade.
Throughout, we have followed a consistent strategy: to build Markel Corporation's business outside the United States and to carry the Markel brand into new countries and product lines. We have done this by careful management - reducing our commitments where necessary, shifting focus to concentrate on new opportunities, and staying true to Markel's pursuit of profitability rather than volume. In recent years this has led to expansion on many fronts. For example, we now have a network of regional offices across the UK, as well as offices in Stockholm, Singapore, Madrid, Toronto and Montreal; we have refined our product lines and moved into new sectors; we have acquired a very successful Canadian business (Elliott Special Risks); and we have launched an equine and livestock division and a trade credit division. Above all, ten years on, I am happy to report that we now account for 34 per cent of
Markel's overall business.
Fittingly, our 10th anniversary coincides with the 80th anniversary of Markel Corporation, reminding us of how deep our roots are and how strong and distinctive the Markel brand is. Through Markel International, we are ensuring that Markel's hallmarks - innovation, flexibility and reliability - are strongly developed wherever we do business and for whatever sector we serve, both now and in the years to come. On behalf of everyone at Markel International, I look forward to the next decade and the continued growth of our brand.
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