Markel Acquires Black/White Social Services Business

Markel Insurance Company has acquired the social services program business of wholesaler Black/White & Associates Insurance. Terms of the deal were not released, said Britton L. Glisson, president and chief operating officer of Markel.

The Richmond, Va.-based insurer said the transaction is expected to be completed by April 1.

Black/White's Alameda, Calif., location will become a Markel Insurance Company underwriting and marketing office, and will continue servicing existing and new accounts, Markel said.

Mr. Glisson and Thomas K. Smith, vice president of marketing, said the acquisition of this $24 million book of business to the company's existing $13 million book in this space will mean a total of $37 million base premium in this business.

The program business writes coverage for private nonprofit social service agencies covering both admitted and nonadmitted business.

Markel said the staff it gains through the acquisition will become a part of the company's strategy to expand its social services business segment nationwide.

Markel will retain Black/White's agency network for renewal and new business, and will extend opportunities to Markel agents. The business covers 37 states primarily in the West.

The Alameda team "brings an extensive understanding of the social services industry to Markel. We look forward to working with them, as well as with their agents and customers," said Mr. Glisson, in a statement.

"Markel and Black/White share the same business philosophy; both focus on quality, integrity, leadership and outstanding service," said Euclid G. H. Black, founding partner, chairman and chief executive officer of Henderson, Nev.-based Black/White. "We are excited about the transition of this book of business to Markel. It will be business as usual for our agents and customers."

Markel is on the Web at www.markelinsurance.com.