Markel Corp. receives license to establish insurance company in Germany

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Markel Corp. has received a license to establish an insurance company in Germany.

The Henrico County-based firm received the license from BaFin, the German federal financial supervisory authority.

Following Brexit, the United Kingdom's exit from the European Union, Markel Insurance SE (MISE) will be able to meet the insurance needs of clients located or with risk exposures in the European Economic Area (EEA).

Richard R. Whitt, Co-Chief Executive Officer of Markel Corporation, said in statement: "We have global growth ambitions for our business and strengthening our position in continental Europe. Establishing our German insurance company will contribute to our success in the region."

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