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Markel Insurance announces agreement to sell reinsurance renewal rights to Nationwide
Markel Insurance announces agreement to sell reinsurance renewal rights to Nationwide

Cision Canada

timea day ago

  • Business
  • Cision Canada

Markel Insurance announces agreement to sell reinsurance renewal rights to Nationwide

RICHMOND, Va., July 30, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), has entered into an agreement to sell the renewal rights for its Global Reinsurance business to Nationwide. The sale is part of Markel's broader strategy to simplify operations and grow the business by empowering local expert teams to serve the distinct needs of their core specialty insurance markets. "We are grateful for the work that our Global Reinsurance team has done for our valued customers, but our scale has held us back from being a leader in the reinsurance market," said Simon Wilson, Chief Executive Officer of Markel Insurance. "With this change, we will sharpen our focus on doing more of what we do best by growing our core specialty insurance business." Nationwide intends to delegate the underwriting and management of all renewal policies included in this transaction to Ryan Re Underwriting Managers ("Ryan Re"), a managing general underwriter of Ryan Specialty (NYSE: RYAN), through the expansion of their existing strategic alliance. Markel will not sell any insurance company entities as part of the transaction, and Markel's Global Reinsurance division will enter runoff, with premiums continuing to earn out over the next two to three years. The transaction is subject to customary closing conditions and is expected to close in August 2025. "Nationwide and Ryan Re have the scale, market presence, and expertise necessary to leverage these renewal rights to build an even stronger foundation for long-term success," said Wilson. "We are confident that they will deliver for our reinsurance customers and trading partners." Transaction terms have not been publicly disclosed. About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers, and clients – that differentiates us worldwide. Disclaimer Certain of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. Statements that are not historical facts, including statements about Markel's beliefs, plans or expectations, are forward-looking statements. These statements are based on Markel's current plans, estimates, and expectations. There are risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by such statements. Factors that may cause actual results to differ are often presented with the forward-looking statements themselves. Additional factors that could cause actual results to differ from those predicted are set forth in the Markel Group Annual Report on Form 10-K for the year ended December 31, 2024, including under "Business Overview," "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Safe Harbor and Cautionary Statement," and "Quantitative and Qualitative Disclosures About Market Risk," and in the Markel Group Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, including under "Management's Discussion and Analysis of Financial Condition and Results of Operations," "Safe Harbor and Cautionary Statement," "Quantitative and Qualitative Disclosures About Market Risk," and "Risk Factors." Neither Markel nor Markel Group assumes any obligation to update this release (including any forward-looking statements herein) as a result of new information, developments, or otherwise. This release speaks only as of the date issued.

Kids' dream school shoes brought to life with disco lights in the soles and laces that change colour with their mood
Kids' dream school shoes brought to life with disco lights in the soles and laces that change colour with their mood

Scottish Sun

time4 days ago

  • Entertainment
  • Scottish Sun

Kids' dream school shoes brought to life with disco lights in the soles and laces that change colour with their mood

More than half wish their footwear could give them the speed of a cheetah SHOE WHAT? Kids' dream school shoes brought to life with disco lights in the soles and laces that change colour with their mood Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) DESIGNERS have brought kids' dream school shoes to life including disco lights in the soles and laces which change colour with their mood. The fun illustration captures the imagination of the children, who spend their days in school shoes, and have stressed that a secret snack compartment full of sweets is a must. Sign up for Scottish Sun newsletter Sign up 2 Nearly half of all children want their shows to have a camera feature to snap pics with friends It comes after a survey, of 1,000 six- to 11-year-olds, found 46 per cent would love built-in trackers so they never get lost, while 44 per cent wanted a camera feature to snap pics with friends. More than half (53 per cent) wished their shoes could give them the speed of a cheetah, and 47 per cent wanted the power to teleport anywhere. Springs in the soles were a must-have for 38 per cent to help them jump higher, while 37 per cent wanted wheels so they could skate to school each morning. Simon Wilson, managing director at Deichmann, which commissioned the research and is offering Buy One Get One Half Price across all kids' school shoes, said: 'The imagination of children should always be celebrated. 'They have some many fantastic ideas, which we've really enjoyed seeing brought to life in this illustration. 'Although yes, some of the suggestions are a bit far-fetched, others seem surprisingly practical. 'There are plenty of times when we've all probably needed a built-in tracking function to help us get around … or even a bit of extra speed to get us to where we need to go.' 2 More than half of all children surveyed felt their dream shoes would look better than anything currently in shops Other inventive features included voice activated laces (41 per cent) and magnetic clasps which snap together automatically (40 per cent). When it came to colour, 31 per cent felt traditional black should stay – although many girls wanted flowers or stars to give it a little sparkle. Bold shapes Boys, on the other hand, mostly preferred a single colour, with some suggesting camouflage or bold shapes for decoration. While they couldn't agree on the pattern, 54 per cent of boys and girls felt their dream school shoe would look better than anything currently in shops. Irish parents rushing to Dunnes Stores as back-to-school range hits shelves – with prices from €5 For two thirds, looking good is the priority, although not top of the list when it comes to what they wear on their feet, as 80 per cent said comfort was the most important thing to them. Parents agreed, ranking comfort as their number one priority too, followed by quality (71 per cent) and durability (66 per cent). It also emerged half of parents think buying school shoes is the most annoying part of back-to-school prep – but 41 per cent let their child have a big say in the decision. They also look for stores offering good value as a priority (61 per cent), a wide range of sizes (55 per cent), and easy-to-reach locations (54 per cent), according to the data. And it seems to help, with 72 per cent finding it easy to agree with their children on which pair to buy. Tricky time for parents Simon, at Deichmann, added: 'We know getting kids ready for back to school can be a tricky time for parents and offering the best value school shoes is top of our priority list too. 'Although the summer holidays have just started, thinking about this now could help avoid the last-minute rush in the weeks before the new term starts. 'It's important the shopping process is as efficient as possible – parents want to know they can select from a wide range of styles and sizes and find footwear that is great quality and durable.'

Kids' dream school shoes brought to life with disco lights in the soles and laces that change colour with their mood
Kids' dream school shoes brought to life with disco lights in the soles and laces that change colour with their mood

The Sun

time4 days ago

  • Entertainment
  • The Sun

Kids' dream school shoes brought to life with disco lights in the soles and laces that change colour with their mood

DESIGNERS have brought kids' dream school shoes to life including disco lights in the soles and laces which change colour with their mood. The fun illustration captures the imagination of the children, who spend their days in school shoes, and have stressed that a secret snack compartment full of sweets is a must. It comes after a survey, of 1,000 six- to 11-year-olds, found 46 per cent would love built-in trackers so they never get lost, while 44 per cent wanted a camera feature to snap pics with friends. More than half (53 per cent) wished their shoes could give them the speed of a cheetah, and 47 per cent wanted the power to teleport anywhere. Springs in the soles were a must-have for 38 per cent to help them jump higher, while 37 per cent wanted wheels so they could skate to school each morning. Simon Wilson, managing director at Deichmann, which commissioned the research and is offering Buy One Get One Half Price across all kids' school shoes, said: 'The imagination of children should always be celebrated. 'They have some many fantastic ideas, which we've really enjoyed seeing brought to life in this illustration. 'Although yes, some of the suggestions are a bit far-fetched, others seem surprisingly practical. 'There are plenty of times when we've all probably needed a built-in tracking function to help us get around … or even a bit of extra speed to get us to where we need to go.' 2 Other inventive features included voice activated laces (41 per cent) and magnetic clasps which snap together automatically (40 per cent). When it came to colour, 31 per cent felt traditional black should stay – although many girls wanted flowers or stars to give it a little sparkle. Bold shapes Boys, on the other hand, mostly preferred a single colour, with some suggesting camouflage or bold shapes for decoration. While they couldn't agree on the pattern, 54 per cent of boys and girls felt their dream school shoe would look better than anything currently in shops. Irish parents rushing to Dunnes Stores as back-to-school range hits shelves – with prices from €5 For two thirds, looking good is the priority, although not top of the list when it comes to what they wear on their feet, as 80 per cent said comfort was the most important thing to them. Parents agreed, ranking comfort as their number one priority too, followed by quality (71 per cent) and durability (66 per cent). It also emerged half of parents think buying school shoes is the most annoying part of back-to-school prep – but 41 per cent let their child have a big say in the decision. They also look for stores offering good value as a priority (61 per cent), a wide range of sizes (55 per cent), and easy-to-reach locations (54 per cent), according to the data. And it seems to help, with 72 per cent finding it easy to agree with their children on which pair to buy. Tricky time for parents Simon, at Deichmann, added: 'We know getting kids ready for back to school can be a tricky time for parents and offering the best value school shoes is top of our priority list too. 'Although the summer holidays have just started, thinking about this now could help avoid the last-minute rush in the weeks before the new term starts. 'It's important the shopping process is as efficient as possible – parents want to know they can select from a wide range of styles and sizes and find footwear that is great quality and durable.' The True Cost Of Going Back to School Parents will spend more than £1,400 kitting out their child with back-to-school essentials over the school years. A study of 1,200 parents of school-aged children found £120 is the norm to spend at the start of each school year – on the likes of new shoes, pencil cases, and lunchboxes. Over the 12 years from Reception to Year 11, this totals £1,440. Of parents surveyed, 73 per cent said they worry about the cost of the back-to-school shop, and half have even had to cut back on other spends such as food for themselves to afford it. The research was commissioned by Aldi as it launches a new Back-to-School Fund to support families with the increased costs at the beginning of term.

I paid less than $200 for a one-star hotel in a top beach destination — here's what I got for my money
I paid less than $200 for a one-star hotel in a top beach destination — here's what I got for my money

New York Post

time24-07-2025

  • Entertainment
  • New York Post

I paid less than $200 for a one-star hotel in a top beach destination — here's what I got for my money

How much comfort are you willing to forgo for a cheap vacation? A British tourist spent less than $200 for one night at a one-star hotel in Miami, Florida — and he took viewers along to see what he got for the very low price. Simon Wilson, who regularly shares his travel adventures on social media, posted an Instagram Reel with over 2 million views documenting his stay at the unidentified establishment in the high-end area of South Beach, where rooms regularly rent for upwards of $500 per night. 3 South Beach is notoriously expensive and one of the priciest areas in Miami. miami2you – Wilson walked into the establishment without a reservation and asked the receptionist for a room with one bed. He revealed that he had looked at reviews online, finding that they were all negative. When he asked why the hotel had such poor reviews, the worker replied only with a sly shrug. The cost of the room with one bed for one night was $149 plus tax, which came out to $184.86. On top of that, the hotel charged a $50 deposit that would be refundable at checkout. In total, Wilson had to dish out $234.86 upon arrival at the one-star hotel. The budget lodgings were revealed to have 80 rooms — and only nine of them were occupied the night Wilson showed up. When Wilson asked the receptionist about amenities, he discovered that there were none — no swimming pool, sauna, breakfast or coffee. All he was getting was the room. 'I have no idea what to expect here,' he said as he opened the door to his room on the first floor. 3 Wilson asked the receptionist, a Brazilian man named Celso, about the amenities at the hotel. @simonjwils/Instagram 'This isn't too bad,' he said. He showed viewers around the room, which included a 'lovely' and small dining table with one chair, bedside cabinets and a remote for the TV on the wall. Moving on to the bathroom, he said the shower/bath looked 'fairly clean' and pointed out that there was a decent amount of soap provided. 'The main thing and the most important thing though is the bed,' he said. 'What's this gonna look like?' After inspecting the pillows and sheets, he deemed it suitable for sleeping. 'I think we might have just had a bargain in South Beach, Miami,' Wilson declared. But people in the comments begged to differ. 'Our man was getting rinsed,' one wrote with a laughing emoji. 'Even half that price would be a rip-off,' someone else said. 'That is a hell of an expensive room considering it is very basic and not even a breakfast or a cup of coffee with it !!!!,' a commenter said. 3 'This isn't too bad,' he said as he entered the room. @simonjwils/Instagram However, many people in the comments also reasoned that the hotel seemed pricey because of its location in South Beach. 'Y'all complaining about the price, but it's expensive in Miami. If you're in South Beach, that's about what it's going to cost,' someone said. 'The price is very normal at last minute in Miami, Florida.. You can't find cheaper than that, either one star or 3 stars,' another wrote. South Beach is notoriously expensive and one of the priciest areas in Miami. According to Radical Storage, premium oceanfront hotels could cost anywhere from $400 to $1,000+ per night during high season. However, booking earlier can result in better prices for visitors. Hotel star rankings are widely used to determine a hotel's quality. In the U.S., a one-star hotel typically means there are only basic room options available with basic accommodations and minimal amenities. These hotels are more about functionality and affordability.

I paid £136 to stay at a one-star hotel with awful reviews - this is what it's like inside
I paid £136 to stay at a one-star hotel with awful reviews - this is what it's like inside

Daily Mail​

time24-07-2025

  • Daily Mail​

I paid £136 to stay at a one-star hotel with awful reviews - this is what it's like inside

A British tourist has shared how he checked into a one-star hotel with less than favourable reviews and scant facilities, including zero tea or coffee - and paid £136 for the pleasure. Simon Wilson, who regularly documents his travels on social media, shared a reel from his stay at the 80-room one-star hotel that's in a plum spot in one of America's most popular tourist destinations. Holidaymakers in South Beach in Miami, Florida can usually expect to pay from around $400 (around £295) during high season for a room in the cool coastal district, so bagging a stay for less than £150 a night might be considered a relative bargain. Sharing on his Instagram and Facebook accounts, Wilson checked in without an advance booking at the unnamed hotel but found just 9 out of the 80 hotel rooms occupied. Chatting to the receptionist, a Brazilian named Celso, he asks about what's on offer for his £136 - and why the hotel has had such bad reviews. The hotel worker responds with a simple shrug. 'Is there a swimming pool, or a sauna?' Wilson enquires in the video, only to be told there isn't even a breakfast service or anywhere to grab a coffee. Given a room on the first floor, Wilson takes viewers around his place for the night, and finds while the hotel is facility free, it's not nearly as bad as he feared. Pushing through the door, he says: 'There's a lovely dining table, cabinet, a remote for the telly.' He then inspects the bathroom, which he describes as looking 'fairly clean', highlighting clean towels and plenty of soap. Is a decent night's sleep on the horizon? Wilson inspects the pillows and sheets on the bed and deems them immaculate. The pleasantly surprised tourist says of his stay: 'It seems like we might just have got a bargain in South Beach, Miami'. Others watching his video though were shocked at the cost of the room, with one responding: '$200 for a night? That's what people pay per months in some parts of the world. Hotel or not, that's insane.' Another adds: 'So, they charge you almost $200 and you can't get anything at the hotel other than a bed and bathroom. Can see why it's 1 star.' One local resident reacted differently though, saying: 'Y'all complaining about the price, but it's expensive in Miami. If you're in South Beach, that's about what it's going to cost.' Hotel star rating systems are widely recognised as the definitive way to ascertain a hotel's overall quality, but the rankings can differ wildly from one country to another. Each country usually has its own way to rank hotels from one to five stars, established by a range of authorities, from tourism bodies to government agencies. View this post on Instagram A post shared by Simon Wilson (@simonjwils) What does £136 buy you in a Miami obvious facilities but a decent room, says the Brit abroad In the US, there are a number of competing systems, from the American Automobile Association to local councils. A one-star hotel generally means there are only basic room options available. In the UK, for example, five letting bedrooms must be available to qualify. The hotel must also be open seven days per week during its operating season and staff must be available during the day to receive and check-in guests. Occasionally, bathroom facilities will be shared and there will likely not be any sort of restaurant or bar on-site. However, there will usually be vending machines. But are there any expectations that hold universally across three, four or five star hotels? Generally, several criteria can be agreed upon across borders. In the UK, star ratings place a heavy emphasis on customer service, whereas in France, the ratings focus more on rooms, lobbies and amenities and are enforced by the French Government. Four groups combined in 2007 to create a unified ranking system for Great Britain: the Automobile Association, VisitBritain, VisitScotland and VisitWales. Hotels in Spain, on the other hand, are ranked regionally instead of nationally, while Italian accommodations emphasize cleanliness in their system, which was established in 2009. In Turkey and Portugal, properties are inspected by the Ministry of Culture and Tourism and the Ministry of Economy and Innovation, respectively.

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