Nationwide Completes Acquisition of Reinsurance Renewal Rights from Markel
$1.2 billion in renewals to be managed by Ryan Re, expanding Nationwide’s partnership with Ryan Specialty
Columbus, OH – Nationwide, a Fortune 100 company and one of the largest providers of insurance and financial services products in the U.S., has completed its acquisition of the renewal rights for the reinsurance business of Markel Insurance, part of Markel Group Inc. (NYSE: MKL). The transaction closed in accordance with the terms of the agreement announced on July 30, 2025.
Nationwide intends to transfer the underwriting and management of all renewal policy opportunities included in the transaction – currently $1.2 billion in premium – to Ryan Re Underwriting Managers, a managing general underwriter specializing in reinsurance and part of Ryan Specialty (NYSE: RYAN).
“This acquisition accelerates Nationwide’s reinsurance growth and deepens our strategic alliance with Ryan Specialty, through Ryan Re, established in 2019,” said Nationwide CEO Kirt Walker. “Together, we’ve built a strong foundation in specialty reinsurance. This transaction builds on that momentum and broadens the range of opportunities we can bring to market.”
“These renewal rights create new opportunities to grow and diversify our reinsurance portfolio while adding specialized talent to Ryan Re’s team,” said Mark Berven, President of Property & Casualty at Nationwide. “We’re ready to provide Markel’s clients with the solutions and service they’ve come to expect, while delivering new value for broker partners.”
Transaction terms have not been publicly disclosed.
Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified financial services and insurance organizations in the United States. Nationwide is rated A+ by Standard & Poor’s. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance.
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