Nationwide, one of the largest providers of insurance and financial services products in the United States, has officially completed the acquisition of the renewal rights for the reinsurance business of Markel Insurance, which operates under the larger umbrella of the Markel Group. This significant deal was finalized in accordance with the terms of the agreement that was initially announced on July 30, 2025.
Under this new arrangement, Nationwide plans to transfer the comprehensive underwriting and management responsibilities for all renewal policy opportunities included in the transaction. These opportunities currently amount to $1.2 billion in premium.
To facilitate this process, Nationwide has chosen to partner with Ryan Re Underwriting Managers. Ryan Re is a specialized managing general underwriter that focuses on reinsurance and operates as a division of Ryan Specialty, which is well-regarded in the industry for its expertise and service offerings.
While the acquisition demonstrates Nationwide’s commitment to expanding its portfolio and enhancing its service capabilities, the specific financial terms and conditions of the deal have not been publicly disclosed, leaving some aspects of the agreement shrouded in confidentiality. This acquisition is expected to bolster Nationwide’s position in the reinsurance market and provide greater value to its clients and stakeholders.
KEY QUOTES:
“This acquisition accelerates Nationwide’s reinsurance growth and deepens our strategic alliance with Ryan Specialty, through Ryan Re, established in 2019. 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.”
Nationwide CEO Kirt Walker
“These renewal rights create new opportunities to grow and diversify our reinsurance portfolio while adding specialized talent to Ryan Re’s team. 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.”
Mark Berven, President of Property & Casualty at Nationwide
