Markel Insurance SE – Slavery and Human Trafficking Statement for the Financial Year 2023

Markel Insurance SE is an insurance company which looks after the commercial insurance needs of major businesses, SMEs, professionals and sole traders.

We have over 230 employees and operate across the EU. We are a part of the Markel Group, and our ultimate parent company, Markel Group Inc., is listed on the New York Stock Exchange.

This statement is made pursuant to Section 54, Part 6 of the Modern Slavery Act 2015 on behalf of Markel Insurance SE for the financial year ending 31 December 2023:

This statement sets out the steps Markel Insurance SE has taken to ensure that slavery and human trafficking is not taking place in our supply chains or in any part of our business.

Markel's Code of Conduct

The Markel Style sets forth our core values and principles, the way we want to do business. Quoting from the Markel Style, “Our creed is honesty and fairness in all our dealings… We respect our relationships with our suppliers and have a commitment to our communities.”

We have a Code of Conduct because companies with strong ethical cultures have a strong foundation for success. Vendors, customers and shareholders can rely on them to do the right thing. The Code of Conduct reminds Markel Associates how Markel conducts business and how we work with each other and our partners. A certification of compliance with the Code of Conduct is required from all our employees and directors. All employees sign up to the Code of Conduct and it is a core element in living the Markel Style. A culture of openness within the Markel International Group is encouraged where employees can raise concerns over unethical, illegal or dangerous practices, including slavery or human trafficking, under Markel International’s whistleblowing policy.

Our business

Markel Insurance SE has appropriate controls in place to ensure that the risk of slavery and human trafficking in our business is very low.

Our supply chains

Markel Insurance SE’s supply chains are relatively short as a financial and professional services business. We do use routine services for the maintenance and support of our office operations, such as cleaning and technical support services for such things as air conditioning, IT, telephones and communications infrastructure. We do not act as a producer, manufacturer or retailer of physical goods and have no supply chain in relation to such activities.

Our approach to mitigating slavery and human trafficking in our supply chain

As part of our initiative to identify and mitigate risk we have mapped our suppliers and performed a risk assessment to identify those with a higher risk of modern slavery in their business or supply chain. None were identified as high risk this year.

To ensure an appropriate level of understanding of the risks of modern slavery and human trafficking in our supply chains, training will be provided to staff as relevant.

All relevant Markel Insurance SE contractors are required to be compliant with applicable laws.

This statement was approved by the Board of Markel Insurance SE.

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