Markel International, the specialty property and casualty insurer, today welcomed the affirmation of A.M. Bests A- (Excellent), outlook stable, rating for its London based insurance company, Markel International Insurance Company Limited (MIICL).

Andy Davies, Finance Director, Markel International, commented, 'The affirmation of the A.M. Best rating recognises the strength of the company despite the recent hurricanes. Our diverse book of business, together with our disciplined underwriting approach, puts the company in a strong position for 2006 and beyond.'

A.M. Best commented, 'The rating reflects MIICL's adequate risk-adjusted capitalisation and implicit support from the parent company, Markel Corporation. MIICL's risk-adjusted capitalisation has been restored following a capital injection of USD 35 million and commutations of existing liabilities in 2005.'

A.M. Best expects MIICL's underwriting performance to be impacted by the 2005 hurricanes, moderately softening rates in it's main line of business (professional indemnity and property) and the potential for adverse legacy loss reserve development. However, overall the company is likely to remain profitable as good anticipated investment return is offsetting underwriting losses.