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Member, Beacon International Group, Ltd.
TORONTOMarkel International Ltd., the London-based arm of Markel Corp., is opening an office in Toronto.
MINT Canadian Speciality Underwriters Ltd. will write specialty business through Markel's multiline syndicate 3000 at Lloyd's of London.
The Canadian unit is slated to open for business in the summer.
Gerry Albanese, president and chief operating officer of Markel International, said that the use of the Lloyd's franchise will enable Markel to underwrite business in Canada that it would not be able to underwrite through Richmond, Va.-based Markel Corp.
The parent company does not have a license to underwrite in Canada, while Markel International is licensed only to underwrite reinsurance in Canada.
Lloyd's, however, is licensed to underwrite in Canada and, in addition, has a well-established franchise there, Mr. Albanese said.
Barrett Hubbard, currently a vp at Glen Allen, Va.-based Markel Insurance Co., will head the office as managing director.