Markel Corp. has acquired an entity that insures livestock and horses from a Bermuda-based insurance company, according to several reports.
It’s the second acquisition the Richmond-based insurer has made in the equine or livestock insurance industry in the last few months.
Read about Markel’s international arm buying a French equine insurer here.
In the latest deal, Markel acquired the rights to American Live Stock, an animal mortality subsidiary of Hiscox Insurance Co.
Details of the transaction weren’t disclosed. The deal is set to close Oct. 1, pending regulatory approval.
According to a report in the Insurance Journal several Hiscox employees will join Markel’s equine and livestock division. That division insures private horse owners and stud farms, according to Markel’s website. It also covers livestock for farms and zoos.
The reports said Markel’s livestock team will be based in Geneva, Ill. The equine business it is buying from Hiscox will be handled by Markel’s divisions in Richmond and Lexington, Ky.
As part of the deal, Markel also obtained rights to the Harding & Harding brand, according to FeedStuffs.com, a weekly agribusiness industry news site.
Markel Corp. has acquired an entity that insures livestock and horses from a Bermuda-based insurance company, according to several reports.
It’s the second acquisition the Richmond-based insurer has made in the equine or livestock insurance industry in the last few months.
Read about Markel’s international arm buying a French equine insurer here.
In the latest deal, Markel acquired the rights to American Live Stock, an animal mortality subsidiary of Hiscox Insurance Co.
Details of the transaction weren’t disclosed. The deal is set to close Oct. 1, pending regulatory approval.
According to a report in the Insurance Journal several Hiscox employees will join Markel’s equine and livestock division. That division insures private horse owners and stud farms, according to Markel’s website. It also covers livestock for farms and zoos.
The reports said Markel’s livestock team will be based in Geneva, Ill. The equine business it is buying from Hiscox will be handled by Markel’s divisions in Richmond and Lexington, Ky.
As part of the deal, Markel also obtained rights to the Harding & Harding brand, according to FeedStuffs.com, a weekly agribusiness industry news site.