Insurance Post

Markel growth despite quake

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Markel International reported a 13% growth in gross written premiums in the first quarter of the year to $208.2m (Q1 2009: $185.0m). However, the insurer's combined ratio deteriorated to 109% (Q1 2009: 97%), which it attributed to $17m or 12 points of underwriting loss related to the Chilean earthquake.

Andy Davies, Markel International finance director, said: "Our differentiator has been our investment return, which was north of 10% for the first quarter." Shareholder equity was up 5% or 20% on an

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