Markel Corporation | November 16, 2021
Markel Corporation (NYSE: MKL) announced that it is winding down Lodgepine Capital Management Limited (Lodgepine), its retrocessional Insurance Linked Securities (ILS) fund manager based in Bermuda.
Markel launched Lodgepine in 2019, with product offerings focused on property catastrophe retrocessional investments. In 2021, Lodgepine wrote a portfolio of property retrocessional business that consisted of approximately $230 million of initial limits. The Lodgepine Fund launched July 1, 2021 with initial investor capital of $98.9 million, including an initial investment by Markel of $18.9 million.
Despite best efforts and in light of headwinds in the retrocessional ILS market, including a challenging fundraising environment, Lodgepine will cease to write any new business and commence the orderly run-off of its existing portfolio and the return of capital to investors.
The company has entered into a consultation period with Lodgepine's 18 employees and will look for redeployment opportunities for these employees within Markel's operations.
About Markel Corporation
Markel Corporation is a diverse financial holding company serving a variety of niche markets. The Company's principal business markets and underwrites specialty insurance products. In each of the Company's businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value.
Inszone Insurance Services | February 14, 2022
Inszone Insurance Services, a rapidly growing national provider of benefits, personal, and commercial lines insurance, announced today the acquisition of Keck Insurance Agency, expanding its presence in the Temecula area.
Keck Insurance, a family-owned independent agency, has served the needs of residents and businesses of the Temecula Valley since 1992. The agency was originally started in September of 1972 by Dan Keck’s father in the San Bernardino area. Dan started working with his father in the agency in 1989 before ultimately taking it on as an owner in October of 1992 when he moved the agency to Temecula.
Keck Insurance Agency strives to provide quality protection for hundreds of individuals, families, and businesses throughout Southern California. The team at Keck Insurance has worked hard at identifying the needs of clients, putting together a customized plan that’s simple and easy to understand, ultimately taking the mystery out of insurance. Keck Insurance Agency customers will continue to receive the service they are accustomed to, under the Inszone Insurance brand.
“We are excited to bring Keck Insurance Agency into the Inszone Insurance family, The acquisition of Keck Insurance makes for our third in the Temecula Valley, expanding our services throughout Southern California.”
-Norm Hudson, CEO of Inszone Insurance Services.
Inszone Insurance plans to continue to broaden its national footprint in 2022, and pursue a steady growth trajectory, with a number of important transactions to be completed and announced in the upcoming months.
Founded in 2002 and headquartered in Sacramento, California, Inszone is a full-service insurance brokerage firm which provides a broad array of property & casualty insurance, along with employee benefits solutions. With a strong, experienced management team, Inszone continues to grow organically, as well as through acquisitions. With 26 locations across California, Arizona, Nevada, Utah, Colorado, Missouri, Texas and Illinois, the company is looking to further expand throughout the United States.
Business Wire | October 26, 2020
Paragon International Insurance Brokers has partnered with CyberCube to roll out Broking Manager, CyberCube’s market-leading cyber risks analytics platform for insurance intermediaries. Broking Manager will allow Paragon’s teams to quantify the sources and financial impact of cyber risk exposure and educate clients accordingly. The platform also produces reports that can be used to educate prospects and clients on potential sources of loss, recent and relevant cyber events, and peer-to-peer benchmarking. Pascal Millaire, CEO of CyberCube, said: It’s extremely exciting that Paragon has chosen to adopt Broking Manager as its cyber analytics tool. This is a forward-thinking business that’s clearly taken a long, hard look at both its and its clients’ cyber needs. We are looking forward to working with Paragon and developing the insights Broking Manager can deliver for its team.