Markel's State National deal seen as good fit

Markel's $919mn acquisition of State National provides a good
fit for both companies but could draw a higher bid for the
Texas-based target, analysts said today.
"We view the deal as favourable for all stakeholders,"
said Randy Binner of FBR Capital Markets in Arlington,
Virginia.
"That said, the broker-like characteristics of State
National's fronting business, which, in our view, is
exceptionally well positioned in the context of a rapidly growing
alternative reinsurance market, could see a hi