M&A Deal Summary

Markel Acquires State National Companies

On July 26, 2017, Markel acquired insurance company State National Companies for 919M USD

Acquisition Highlights
  • This is Markel’s 8th transaction in the Insurance sector.
  • This is Markel’s 2nd largest (disclosed) transaction.
  • This is Markel’s 4th transaction in the United States.
  • This is Markel’s 2nd transaction in Texas.

M&A Deal Summary

Date 2017-07-26
Target State National Companies
Sector Insurance
Buyer(s) Markel
Deal Type Add-on Acquisition
Deal Value 919M USD
Advisor(s) Evercore Group (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

State National Companies

Bedford, Texas, United States
State National Companies, Inc. is an insurance services company. State National is a provider of services to specialty general agents and collateralized lenders through its program services and lender services lines of business.

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Buyer(S) 1

Buyer

Markel

Glen Allen, Virginia, United States

Category Company
Founded 1930
Sector Insurance
Employees22,000
Revenue 16.8B USD (2024)
DESCRIPTION

Markel is a diverse financial holding company serving a variety of niche markets through underwrites specialty insurance products. Markel was founded in 1930 and is based in Glen Allen, Virginia.


DEAL STATS #
Overall 8 of 15
Sector: Insurance M&A 8 of 10
Type: Add-on Acquisition M&A Deals 8 of 15
State: Texas M&A 2 of 2
Country: United States M&A 4 of 9
Year: 2017 M&A 3 of 3
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-06 Allsport Insurance Marketing

Burnaby, British Columbia, Canada

Allsport Insurance Marketing Ltd. is an incorporated managing general agent (MGA) specializing in providing insurance to Canadians for sport, leisure and recreation activities. Allsport Insurance Marketing was formed in 1987 and is based in Burnaby, British Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-31 Nephila Capital

Hamilton, Bermuda

Nephila Capital Ltd. is an investment manager specializing in reinsurance risk. Nephila offers a broad range of investment products focusing on instruments such as insurance-linked securities, catastrophe bonds, insurance swaps, and weather derivatives. Nephila Capital was formed in 1997 and is based in Hamilton, Bermuda.

Buy -