Markel Acquiring Acceptance Renewals

Markel Corporation and Acceptance Insurance Companies say Markel will acquire the renewal rights to the book of business produced and serviced by the Scottsdale, Arizona office of Acceptance. Markel will take over the Scottsdale location and staff, and will assume financial responsibility for certain expenses of the office.

Markel will provide policyholder services to the current customers of Acceptance's Scottsdale office and will quote renewal coverage in Markel owned insurers as soon as reasonably possible.

Paul Springman, president of Markel North America, said, "We are delighted with this transaction. We inherit outstanding leadership in Tom Stamm, along with experienced staff and an outstanding group of agents. We expect this operation to add measurably to our North American presence. We look forward to working with Tom and his staff to fully integrate them into the Markel family of companies."

Michael McCarthy, chairman of Acceptance, stated: "We are also pleased to announce this transaction. It gives our property and casualty customers and our staff an opportunity to continue to be associated with a strong specialty carrier. It will also allow us to continue our previously announced intent to reduce our commitment to property and casualty insurance and increase our focus on our successful crop insurance business."

Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets. Acceptance Insurance is a specialized insurance company providing crop, property and casualty insurance products throughout the United States.