Investors Underwriting Managers, one of the subsidiaries of Markel Corporation, announced yesterday that it would change its name to adopt the Markel brand.
Glen Curley, president and chief operating officer of Investors Underwriting Managers in Red Bank, N.J., said that the new name of the company is Markel Underwriting Managers, adding that the name change was effective as of Dec. 1, 2006.
Primary casualty, property, excess and umbrella, environmental liability, taxicab liability, surety reinsurance and special programs are among the company's product offerings, which won't change, according to Mr. Curley.
"The switch to Markel Underwriting Managers is the only change the company will implement. Everything else will remain the same," he said in a statement.
Markel Underwriting Managers' products are distributed on an excess and surplus lines basis through more than 200 wholesale brokers.
Markel said the name change comes just two months after the 10th anniversary of Investors Underwriting Managers as a wholly-owned subsidiary of Richmond, Va.-based Markel Corporation, which occurred on Oct. 31. The holding company's operations sell specialty insurance products and programs to a variety of niche markets.
"Markel Corporation's financial strength and stability over 75 years is unprecedented. At IUM, we've long appreciated the value of the Markel name, and felt the time was right to demonstrate that by changing our name," Mr. Curley said.
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