Wisconsin-based Markel American Insurance Company (rated “A X” by A.M. Best) and Fireman’s Fund Insurance Company have entered into an agreement wherein Markel will acquire the rights to Fireman’s Fund McGee Marine Underwriter’s (FFMMU) yacht renewal business. FFMMU is discontinuing writing its limited book of yacht business, as its personal lines’ nature does not align with the core book of FFMMU’s commercial marine business.
“With our specialty personal lines infrastructure and expertise level in managing marine programs, we currently offer our existing customers outstanding service and we look forward to the opportunity to provide the same customary excellent service to FFMMU’s Yacht customers,” Markel American President and COO, Timberlee Grove, commented.
Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets.
A top 20 P/C underwriter in the U.S., Fireman’s Fund had gross premiums written during 2001 of more than $4.7 billion. Rated “A” by A. M. Best Company, Fireman’s Fund is a subsidiary of Allianz AG of Munich.
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