Nationwide to acquire global reinsurance business from Markel.

Nationwide, a diversified insurance company, agreed to acquire global reinsurance business from Markel, a specialty insurance company. Financial terms were not disclosed. "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. With this change, we will sharpen our focus on doing more of what we do best by growing our core specialty insurance business," Simon Wilson, Markel Insurance CEO.