MARKEL INTERNATIONAL COMPLETES PART VII TRANSFER

Markel International has completed the transfer of its European insurance business from its London operation to its Munich operation. The High Court in London approved the transfer of the operation to Markel Insurance SE (MISE) on March 28. A host of UK re/insurers have set up capitalised subsidiaries in the EU to service European business, and put in place transfers of books of business into those subsidiaries in accordance with Part VII of the Financial Services and Markets Act 2000.