Markel Corporation has announced that Jed Rhoads, President, and Chief Underwriting Officer of its Global Reinsurance Division, is retiring at the end of 2022.
Rhoads has worked in the industry for more than four decades, having held executive positions with several leading organisations. He joined Markel in 2013 as part of its acquisition of Alterra Capital Holdings Limited.
Before this, he was President and Chief Underwriting Officer of Alterra. He also recently served as chair of the board of directors of the Reinsurance Association of America.
Richie Whitt, Co-CEO of Markel, commented, “Markel is fortunate to have benefited from Jed’s industry knowledge, leadership experience, and relationships throughout the industry.”
“He has helped us build a strong team with deep underwriting and leadership talent. We are thankful for his contributions and leadership in positioning us for the future.”
Markel also announced that Don Bahr will be promoted to President upon Rhoads’ retirement, and Tod Costikyan will be promoted to Chief Underwriting Officer.
Whitt said, “With Don and Tod’s deep expertise and knowledge of our business, our reinsurance team will be well positioned to help Markel build the leading global specialty insurer, with the broadest array of tools to address insureds’ most complex risk management and risk transfer needs.”
Bahr will oversee the division’s annual and long-term business and financial planning and lead the Global Reinsurance business strategy. Costikyan will report to Bahr and work with the team on underwriting and business strategies.
Rhoads added, “I’m honored, privileged, and grateful to have had the opportunity to spend my entire career in this wonderful industry. Having worked with Don and Tod for nearly two decades, I am confident they are well prepared to lead the reinsurance operations forward.”
