RICHMOND, Va., March 15, 2017 /PRNewswire/ -- Markel Specialty, a division of Markel Corporation, has signed an agreement with Wright Specialty Insurance, a managing general underwriter and program administrator focused on meeting the needs of schools and colleges, municipal governments, and the food industry. Markel has been in business since 1930 and is headquartered in Richmond, Virginia. Wright Specialty Insurance is based in Uniondale, New York.
Wright Specialty's education insurance program features a comprehensive suite of property and casualty coverages and related services for K-12 private independent schools, public schools outside of New York State, and accredited colleges and universities. Wright Specialty is well known and respected for its experienced underwriting and claims teams and industry-leading risk management and loss control services. They also have an education-specific retail distribution network consisting of carefully selected and appointed insurance agencies across the country.
Underwriting more than $1 billion in gross written premium annually, Markel Specialty has over 70 years of experience in niche markets with a product focus on commercial and personal lines insurance.
Matt Parker, President of Markel Specialty, commented, "This partnership puts Markel in a very strong position within the educational segment. It is a testament to the Markel culture and organization that a team can come together and complete this complex transaction that combines the best of our organizations."
Steve Leeret, Managing Director of Programs, stated, "Our new relationship with Wright Specialty is exciting to us because they bring the values alignment, track record of success, scale, and focus on the customer experience that we look for in program administrators. Wright Specialty is a quality organization with a corresponding reputation. We look forward to supporting them as they continue to meet the needs of this dynamic and important market segment."
Kevin Beer, President of Wright Specialty Insurance, added, "Wright Specialty's partnership with Markel is a great fit for both companies. Markel's financial strength and resources, commitment to corporate culture and specialty business, and ability to write business in all 50 states, makes them uniquely qualified as our carrier partner. We look forward to working with Markel and trust this partnership will benefit both our current and future customers."
About Markel Specialty
Markel Specialty, a division of Markel Corporation, provides innovative insurance solutions for both commercial customers and individuals. Types of insurance offered include property and casualty, workers compensation, accident, and programs featuring industry or risk-specific coverage packages.
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. For more information about Markel Corporation, visit markelcorp.com.
About Wright Specialty Insurance
Wright Specialty Insurance is a leading managing general underwriter and program administrator specializing in the unique exposures faced by the education, government, and food service entities. The company and its predecessor companies have been providing underwriting, claims, risk management, and litigation management services to these sectors for almost three decades. Wright's industry-focused programs are designed to enable brokers and agents to deliver comprehensive, quality insurance coverages and services more efficiently to their clients. Wright Specialty Insurance is a subsidiary of Brown & Brown, Inc. More information about Wright Specialty is available at wrightspecialty.com.
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SOURCE Markel Corporation