As of 12/31/2022 S&P A.M. Best (1) Moody's
 Financial strength rating (FSR) (2)      
 Evanston Insurance Company A (Strong) A (Excellent) A2 (Good)
 Markel Insurance Company A A A2
Markel American Insurance Company A A A2
Markel International Insurance Company Limited A A  
Essentia Insurance Company A A A2
FirstComp Insurance Company A A  
Markel Bermuda Limited (1) A A A2
Markel Global Reinsurance Company (1) A A  
Markel Insurance SE A A  
Lloyd's Syndicate 3000 (3) A+ A s  
SureTec Insurance Company   A  
State National Insurance Company SN   A  
Superior Specialty Insurance Company SN    A  
National Specialty Insurance Company SN    A  
City National Insurance Company SN   A  
United Specialty Insurance Company SN   A  
Independent Specialty Insurance Company SN   A  
Pinnacle National Insurance Company SN   A  
 
Credit ratings      
Markel senior debt BBB bbb+ Baa2
Markel preferred stock BB+ bbb- Ba1
 
Overall Outlook Stable Stable Stable

(1) All entities are rated XV for financial size category unless noted. Markel Bermuda Limited and Markel Global Reinsurance Company are rated XIII for financial size category.  The State National Companies are rated IX for financial size category. The State National Companies are indicated above by the SN superscript.

(2) Fitch assigned unsolicited ratings of A+ to a number of Markel’s insurance companies and a rating of BBB+ to Markel’s Senior Debt.

(3) Lloyd’s Syndicate: S&P provides an FSR for the Lloyd’s marketplace not by individual syndicate. Lloyd’s marketplace is rated AA- by Fitch.

Financial strength rating  < Investment Grade  Junk >
 S&P  AAA: Extremely strong AA A BBB BB B CCC CC: Extremely Weak
 A.M. Best  A++, A+: Superior A, A- B++, B+ B, B- C++, C+ C, C- D E  F: In liquidation
 Moody’s
(1-higher, 2-mid-range, 3-lower)		  Aaa: Exceptional  Aa A Baa Ba B Caa  Ca  C: Lowest
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DISCLAIMER: This document is intended for general information purposes only. The content of this document is made available on an “as is” basis, without warranty of any kind. Markel does not assume any obligation to update any information herein, or remove any information that is no longer accurate or complete. Furthermore, Markel does not assume any liability to any person or organization for loss of damage caused by or resulting from any reliance placed on that content.
Information as of December 31, 2022. Credit ratings are under continuous review and subject to change. The rating represents the overall financial status of the insurance companies and is not a recommendation of the specific policy provisions, rates, or practices of the issuing insurance company.