Markel International plans to offer a local solution for Chinese insurers seeking to purchase treaty and facultative reinsurance.
Capacity will be provided by Markel’s Syndicate 3000 at Lloyd’s and written through the Lloyd’s China platform.
Markel has had a presence in China since 2011, when it opened a representative office in Beijing. Markel International has now had approval to join Lloyd’s China and Steven Zhang, currently chief representative in the Beijing office, will move to Shanghai in the first quarter of this year.
Simon Wilson, director of international development at Markel International, says: ”Giving Chinese insurers access to A-rated reinsurance capacity in their local market will usefully extend the range of high quality options available to them.
“We strongly support the international Lloyd’s platforms and are delighted that shortly we will be operating on them in Brazil, China, Singapore and Dubai.”
