Insurance Industry News and Information
Markel Acquires Allsport
Toronto, ON (Apr. 7, 2017) – Markel Canada has acquired the 50% of Allsport Insurance Marketing Ltd that it did not already own.
Allsport is an incorporated managing general agent (MGA) specializing in providing insurance to Canadians for sport, leisure and recreation activities. It was founded in 1987 and has been part owned by Markel since 1997.
The move will expand Markel's position in the west of Canada and reflect Markel's growing focus on all parts of this attractive sector.
Gina Bennett, president of Allsport, will become vice president of Markel's western region.
"We have been working closely with Allsport for twenty years; we know the business and the people really well, and so we are delighted that they are now part of our team," said Karen Barkley, president of Markel Canada. "Together our strengths will create more opportunities for growth."
"Over the past 20 years, Markel Canada, formerly Elliott Special Risks, has been a shareholder of Allsport Insurance," said Gina Bennett. "We can now combine our strengths and operate under a single brand for the entire sector. We are excited to merge Allsport's laser-focused expertise with Markel's depth and capacity, creating a winning proposition for our brokers and policy holders. Markel's people, culture, underwriting and products give Allsport truly national sales and operational presence."
About Markel International
Markel International Limited is a subsidiary of Markel Corporation, a US-based holding company trading on the New York Stock Exchange (MKL). Markel International writes insurance and reinsurance business through six divisions and through offices across the UK, Europe, Canada, Latin America and Asia Pacific. Markel International's insuring entities include Syndicate 3000, Markel Resseguradora do Brasil S.A. and Markel International Insurance Company Limited. Markel International also manages the business of Abbey Protection Group which provides legal and professional fees insurance cover as well as legal, tax and human resources consultancy services.
SOURCE: Markel International
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