Markel, the insurance operations within Markel Group, has announced the retirement of Bryan Sanders, President of its Markel Specialty division; Alex Martin is to take over the role.
Sanders plans to retire by December 31, 2024. Effective December 1, 2023, he will transition to the role of Chairman, Markel Specialty, and Martin, currently Markel’s Chief Financial Officer, will become President, Markel Specialty.
Martin will report to Bob Cox, President, Global Insurance Operations. Brian Costanzo, currently senior vice president and Chief Accounting Officer for Markel Group Inc., will become Chief Financial Officer of Markel, reporting to Jeremy Noble, President, Markel.
“Bryan Sanders is retiring after a highly successful insurance career spanning four-plus decades, during which he has led several major initiatives that have transformed our US and Bermuda operations to best meet the needs of our clients,” said Jeremy Noble.
Adding: “Thanks to Bryan’s leadership and the extensive industry relationships he has built, and with a strong team in place led by Alex Martin, Markel Specialty is well positioned to continue to build on our solid brand and reputation, as well as deliver against our long-term profitable growth ambitions.”
Sanders has more than 42 years in the insurance industry, and joined Markel in 2013 as part of the Alterra Capital Holdings, Ltd. acquisition.
Before assuming his current position in 2020, he served as President of Markel Wholesale from 2014 to 2017, and President of Markel Assurance from 2018 to 2020.
“Serving as President of Markel Specialty has been an honour, and I am committed to working with Alex and the Markel Specialty leadership team to achieve a seamless transition as we continue to execute on our strategic priorities and plans,” Bryan Sanders said.
“I look forward to helping the team build on our progress so far, including our strong industry relationships and our outstanding positioning in the marketplace.”
Martin has extensive experience in leading transformation and building high-performing teams, including achieving operational efficiency and process improvement while leveraging technology, harnessing data and improving executional capabilities.
He joined Markel 17 years ago, since then he has held management positions in operations, underwriting, business development, strategy and finance.
Martin commented:”Bryan Sanders and his team have built an incredible franchise in the marketplace, and I’m committed to working with him to achieve a seamless transition. I leave the Finance function in good hands with Brian Costanzo and the Finance leadership team.
“Brian is extremely well qualified to take the Finance function forward at Markel. I look forward to working with my colleagues across Markel Specialty as we add value to our clients by delivering exceptional products and first-class service.”
Costanzo has been with Markel for 14 years. He has held a variety of leadership roles within Finance and has played a key role in leading strategic efforts within Finance in regard to operational efficiency, actuarial transformation, technology and data.
Additionally within Markel Specialty, Guenter Kryszon has been named Chief Underwriting Officer and Ryan Oosterheert has been named Chief Operations Officer. Both will report to Martin.
