Markel Corporation has released a 14-page “longer than usual” annual letter to shareholders wherein the firm’s co-chief executive officers drew particular attention to its insurance-linked securities (ILS) strategy while revealing a significant net loss.
“We’d like to take some extra time and space to describe our strategic initiative in the insurance-linked securities market, and to answer some specific questions many of you have raised in recent months about that initiative,” wrote Thomas S. Gayner and Richard R. Whitt, III, in the letter seen by Insurance Business.
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