Markel Corporation’s Registered Senior Notes Offering and Concurrent Cash Tender Offer


Cravath represented the underwriters, led by Wells Fargo Securities, Citigroup, J.P. Morgan Securities and Barclays, in connection with the $800 million registered senior notes offering of Markel Corporation, and represented the dealer managers, Wells Fargo Securities and Citigroup, in connection with Markel Corporation’s concurrent $600 million cash tender offer.

Markel Corporation markets and underwrites specialty insurance products in the United States and internationally. The registered senior notes offering closed on September 17, 2019, and the concurrent cash tender offer closed on September 23, 2019.

Markel Corporation markets and underwrites specialty insurance products and programs to a variety of niche markets. The Company also underwrites a diverse property, casualty, marine, and aviation insurance and reinsurance business on a worldwide basis.

The Cravath team included partners Andrew J. Pitts (Picture) and D. Scott Bennett and associates Karice D. Rhule and James I. Kim on securities matters, and foreign associate attorney Nicolaas Versteeg on tax matters.

Involved fees earner: Scott Bennett – Cravath Swaine & Moore; James Kim – Cravath Swaine & Moore; Andrew Pitts – Cravath Swaine & Moore; Karice Rhule – Cravath Swaine & Moore; Nicolaas Versteeg – Cravath Swaine & Moore;

Law Firms: Cravath Swaine & Moore;

Clients: Barclays Bank; Citigroup Inc.; J.P. Morgan Securities LLC; Wells Fargo Securities;