Markel Corp was founded in 1930. The Company is a diverse financial holding company serving in niche markets. It is engaged in marketing and underwriting specialty insurance products. It operates in three segments; U.S. Insurance, International Insurance and Reinsurance. The U.S. Insurance segment includes all direct business and facultative placements written by insurance subsidiaries domiciled in the United States. The International Insurance segment includes all direct business and facultative placements written by insurance subsidiaries domiciled outside of the United States, including syndicate at Lloyd's of London (Lloyd's). The Reinsurance segment includes all treaty reinsurance written across the Company. U.S. Insurance segment includes both hard-to-place risks written outside of the standard market on an excess and surplus lines basis and hard-to-place risks that must be written on an admitted basis due to marketing and regulatory reasons. The following products are included in this segment: general liability, professional liability, catastrophe-exposed property, personal property, workers' compensation, specialty program insurance for well-defined niche markets, and liability coverages and other coverages tailored for exposures. Business in this segment is written through Wholesale, Specialty and Global Insurance divisions. The Wholesale division writes commercial risks, on an excess and surplus lines basis, using a network of wholesale brokers managed on a regional basis. The Specialty division writes program insurance and other specialty coverages for well-defined niche markets, on an admitted basis. The Global Insurance division writes risks outside of the standard market on both an admitted and non-admitted basis. International Insurance segment writes risks that are characterized by either the nature of the exposure or the high limits of insurance coverage required by the insured. Products offered within International Insurance segment include excess of loss property, excess liability, professional liability, marine and energy and liability coverages and other coverages tailored for exposures. Business included in this segment is produced through Markel International and Global Insurance divisions. The Markel International division writes business worldwide from London-based platform, which includes syndicate at Lloyd's. Reinsurance segment includes property, casualty and specialty treaty reinsurance products offered to other insurance and reinsurance companies globally through the broker market. Its treaty reinsurance offerings include both quota share and excess of loss reinsurance. Its lines of business include: property (including catastrophe-exposed property), professional liability, general casualty, credit, surety, auto, and workers' compensation. The Company competes with numerous domestic and international insurance companies and reinsurers, Lloyd's syndicates, risk retention groups, insurance buying groups, risk securitization programs and alternative self-insurance mechanisms. The Company's insurance subsidiaries are subject to regulation and supervision by the insurance regulatory authorities of the various jurisdictions in which it conducts business.