Markel has reported losses of $254m from hurricanes Katrina and Rita...
Markel has reported losses of $254m from hurricanes Katrina and Rita.
The insurer, which also manages Lloyd's syndicate 3000 through its international subsidiary, said its combined ratio for the third quarter of 2005 was 149% compared to 106% for the same period of 2004.
Alan Kirshner, chairman and chief executive, said: "Our 2005 hurricane losses were more than we expected. We are working on several fronts to review how we approach catastrophe exposed business.
"From both an underwriting and capital standpoint, we are well positioned to succeed in the changing insurance market place."
