Markel Re, headquartered in Richmond, Virginia is a wholly-owned subsidiary of the Markel Corporation. Markel Re consists of three distinct operating divisions: the Casualty Facultative Reinsurance Division, Direct Umbrella and Excess Division, and Specialized Markel Alternative Risk Transfer (SMART), Markel's alternative risk team.

The Casualty Facultative Reinsurance Division offers casualty facultative reinsurance support for qualified primary insurance companies. This unit is an open market and accepts business either directly from the ceding companies or through reinsurance intermediaries. Markel Re provides underwriting consultation to enhance the primary underwriters account review process.

The Direct Umbrella and Excess Division underwrites umbrella and excess liability produced by contracted wholesale general agents.

Specialized Markel Alternative Risk Transfer (SMART) is the division within Markel Re that produces and underwrites alternative market business. Within the alternative market arena, SMART targets its marketing and underwriting efforts to leverage insurance and reinsurance products on books of business using non traditional distribution channels, alternative risk financing mechanisms, and bundled or unbundled claims services.