Markel Completed its $250 Million Acquisition of SureTec

TigerRisk Capital Markets & Advisory acted as the exclusive financial advisor to Markel Corporation

Transaction Overview

On 4/28/17, Markel completed the acquisition of SureTec

  • $250 million transaction; inclusive of a three-year earn out

SureTec will operate as a separate business unit led by John T. Knox, Jr.

  • Operating unit will become part of Markel’s Specialty Division

SureTec is a top 20 surety writer in the U.S. and a top 3 independent writer

  • Diversified product and geographic mix operating in 50 states
  • Offerings of contract, commercial and court bonds
  • Strong client and agent relationships
  • Strong capitalization with an “A” AMB rating
  • Industry leading underwriter with a 10-year average combined ratio of 74%

Markel is a diverse financial holding company serving various niche markets

  • Publicly traded with a market capitalization of $13 billion

TigerRisk Capital Markets & Advisory Role

TCMA acted as the exclusive financial advisor to Markel Corporation

  • Initiated the transaction and introduced the counterparties
    • Long-standing relationship with both Markel and SureTec
  • Assisted in determining transaction valuation