Cravath represented the underwriters, led by Wells Fargo Securities, Citigroup and J.P. Morgan Securities, in connection with the $600 million registered offering of series A fixed‑rate reset non‑cumulative preferred stock shares of Markel Corporation. Markel Corporation markets and underwrites specialty insurance products in the United States and internationally. The transaction closed on May 27, 2020.
The Cravath team included partners Andrew J. Pitts and D. Scott Bennett and associates Fay E. Krewer and James I. Kim on capital markets matters, and partner Kara L. Mungovan on tax matters. Brittany A. Milano worked on tax matters.