...TORONTO (S&P Global Ratings) Dec. 13, 2018--S&P Global Ratings today said that its ratings on Markel Corp. (NYSE: MKL; ###/Stable/--) and its subsidiaries (collectively, Markel) remain unchanged following the company's disclosure of inquiries by the U.S. and Bermuda authorities into the loss reserves recorded in late 2017 and early 2018 at Markel CATCo Investment Management Ltd. and its subsidiaries (Markel CATCo). In addition, Markel mentioned that these inquiries are limited to Markel CATCo and do not involve any of its other subsidiaries. Markel CATCo has strengthened its reserves related to the 2017 natural catastrophes including hurricanes Harvey, Irma, and Maria as well as the California wildfires. S&P Global Ratings does not rate Markel CATCo, but our analysis on Markel takes into account the consolidated group operations. Any potential reputational or monetary impacts are unknown at this time. However, in our view, as long as the financial implications are limited to Markel's investment...
