Markel has completed the acquisition of Aspen Holdings, a privately held insurance group that provides workers compensation insurance and related services, principally to small businesses, in 31 US states.

Aspen, which is headquartered in Omaha, Nebraska, operates primarily through FirstComp Insurance, a Nebraska-domiciled insurance company, and FirstComp Underwriters Group, and FirstComp Insurance Agency, which act as managing general agents.

Aspen will continue to operate as a separate unit, with Luke Yeransian, Aspen’s current CEO, as president, said Markel.

The unit will report to Mike Crowley, Markel’s president and co-COO, as part of Markel’s specialty admitted segment.