|As of 03/31/2023||S&P||A.M. Best (1)||Moody's|
|Financial strength rating (FSR) (2)|
|Evanston Insurance Company||A (Strong)||A (Excellent)||A2 (Good)|
|Markel Insurance Company||A||A||A2|
|Markel American Insurance Company||A||A||A2|
|Markel International Insurance Company Limited||A||A|
|Essentia Insurance Company||A||A||A2|
|FirstComp Insurance Company||A||A|
|Markel Bermuda Limited (1)||A||A||A2|
|Markel Global Reinsurance Company (1)||A||A|
|Markel Insurance SE||A||A|
|Lloyd's Syndicate 3000 (3)||A+||A s|
|SureTec Insurance Company||A|
|State National Insurance Company SN||A|
|Superior Specialty Insurance Company SN||A|
|National Specialty Insurance Company SN||A|
|City National Insurance Company SN||A|
|United Specialty Insurance Company SN||A|
|Independent Specialty Insurance Company SN||A|
|Pinnacle National Insurance Company SN||A|
|Markel senior debt||BBB||bbb+||Baa2|
|Markel preferred stock||BB+||bbb-||Ba1|
(1) All entities are rated XV for financial size category unless noted. Markel Bermuda Limited and Markel Global Reinsurance Company are rated XIII for financial size category. The State National Companies are rated IX for financial size category. The State National Companies are indicated above by the SN superscript.
(2) Fitch assigned unsolicited ratings of A+ to a number of Markel Group’s insurance companies and a rating of BBB+ to Markel’s Senior Debt.
(3) Lloyd’s Syndicate: S&P provides an FSR for the Lloyd’s marketplace not by individual syndicate. Lloyd’s marketplace is rated AA- by Fitch.
|Financial strength rating||< Investment Grade||Junk >|
|S&P||AAA: Extremely strong||AA||A||BBB||BB||B||CCC||CC: Extremely Weak|
|A.M. Best||A++, A+: Superior||A, A-||B++, B+||B, B-||C++, C+||C, C-||D||E||F: In liquidation|
(1-higher, 2-mid-range, 3-lower)
|Aaa: Exceptional||Aa||A||Baa||Ba||B||Caa||Ca||C: Lowest|
Letters to shareholders
The latest and past messages from Markel Group's chief executive officers to our business partners highlight our win-win-win culture.
Since 1930, we've held a set of principles that define who we are and how we operate every single day, called the Markel Style.