04:59 PM EDT, 08/18/2025 (MT Newswires) -- Markel Group ( MKL ) said late Monday that Markel Insurance has completed the sale of the renewal rights for its Global Reinsurance business to Nationwide.

Financial details weren't disclosed.

The deal, announced on July 30, includes Nationwide delegating the underwriting and management of all renewal policies to Ryan Re Underwriting Managers, a managing general underwriter of Ryan Specialty ( RYAN ) .

Markel ( MKL ) said it did not sell any insurance company entities in the transaction and that its Global Reinsurance division has entered runoff, with premiums expected to earn out over the next two to three years.