Lloyd’s underwriter can write admitted US marine business
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Lloyd’s of London underwriter Canopius, a unit of Tokyo-based Sompo Japan Nipponkoa Insurance Inc., on Wednesday said it has signed an agreement with a Markel Corp. unit enabling it to offer U.S. ocean marine business on admitted paper across the United States.
With its agreement with State National Group, Canopius will now be able to provide A.M. Best Co. Inc.-rated A (Excellent) admitted paper for U.S. marine business in addition to surplus lines Lloyd’s Syndicate 4444 paper, said the statement.
Glen Allen, Virginia-based Markel announced last week that it had completed its acquisition of Bedford, Texas-based State National Cos. Inc., a specialty insurer. Markel announced the $919 million acquisition in July.
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