PR Newswire
LONDON, Oct. 20, 2023
LONDON, Oct. 20, 2023 /PRNewswire/ -- Markel, the insurance operation within Markel Group Inc. (NYSE: MKL), today announces a 49% strategic investment in Certa, the market-leading tax MGA. This move will accelerate the UK-based tax specialist's product development and geographical expansion plans, while giving Markel further access to the significant long-term growth opportunity in the niche, maturing sector.
Certa was formed in 2019 by four market professionals β Ed Beckwith, Tom Cartwright, Rachel Hine, and Adam Singer β to establish a dedicated tax underwriting MGA, with the support of Markel as one of its original capacity providers. Since then, Certa has gone from strength-to-strength, creating the only underwriting agency focused exclusively on tax and contingent risk insurance, backed by 12 capacity providers. It is headquartered in London with offices in Germany and Spain.
As part of this investment, Markel will work closely with Certa's management team to support the MGA's business strategy. The partnership will also complement Markel's in-house Warranty and Indemnity (W&I) portfolio, which offers M&A insurance cover for SME transactions to buyers domiciled in the UK and European Economic Area (EEA).
David Sawyer, Divisional Managing Director of Professional and Financial Risk (PFR) and Cyber at Markel International, commented: "Markel has provided capacity to Certa from day one, and in a short period of time Certa has become a market-leader in its specialist sector. We believe the business has plenty of headroom for growth in the coming years as the tax sector continues to mature.
"We look forward to continuing to work with Certa's excellent team of tax experts as we play a key role in accelerating growth across the MGA's operations in 2024 and beyond."
Building on Sawyer's sentiment, Beckwith said: "We are extremely excited to have secured a 49% investment from an organisation with Markel's specialty lines pedigree. Markel's extensive global footprint, coupled with its high-level underwriting and operational expertise, will hugely aid our potential in developing more tax insurance solutions and other products, as well as providing crucial capacity support for our next expansion phase."
He added: "We can't wait to start partnering with David and the wider Markel team to accelerate the next stage of Certa's growth."
About Markel
We are Markel, a leading global specialty insurer with a truly people-first approach. As the insurance operations within Markel Group Inc. (NYSE: MKL), we operate the Markel Specialty, Markel International, and Markel Global Reinsurance divisions, as well as State National, our portfolio protection and program services operations, and Nephila, our insurance-linked securities operations. Our broad array of capabilities and expertise allow us to create intelligent solutions for the most complex risk management needs. However, it is our people β and the deep, valued relationships they develop with colleagues, brokers and clients β that differentiates us worldwide.
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