Markel Completed its $250 Million Acquisition of SureTec

On 4/28/17, Markel completed the acquisition of SureTec

• $250 million transaction; inclusive of a three-year earn out

SureTec operated as a separate business unit led by John T. Knox, Jr.

• Operating unit became part of Markel’s Specialty Division

SureTec is a top 20 surety writer in the U.S. and a top 3 independent writer

• Diversified product and geographic mix operating in 50 states
• Offerings of contract, commercial and court bonds
• Strong client and agent relationships
• Strong capitalization with an “A” AMB rating
• Industry leading underwriter with a 10-year average combined ratio of 74%

Markel is a diverse financial holding company serving various niche markets

• Publicly traded with a market capitalization of $13 billion

TCMA acted as the exclusive financial advisor to Markel Corporation

• Initiated the transaction and introduced the counterparties
  • Long-standing relationship with both Markel and SureTec
• Assisted in determining transaction valuation