Markel Corporation has reached an agreement in principle with Reliance Group Holdings (to acquire the renewal rights to Reliance’s Child Care book of business and certain segments of Reliance’s Social Services and Healthcare Liability books.
The purchase is subject to the negotiation and execution of a definitive agreement and necessary regulatory approvals. Paul Springman, president of Markel’s North American Division, commented, “This purchase of renewal rights represents an exciting opportunity to expand Markel’s presence in the Child Care, Social Services and Healthcare Liability specialty markets.
We look forward to Serving Reliance customers and producers.” Terry Van Gilder, president and chief executive officer of Reliance Insurance, added, “We believe our policyholders and insurance agents and brokers will be very pleased with Markel’s capabilities, and we envision a smooth transition of this business.”
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