Specialist insurer and reinsurer Markel International has created two new standalone divisions for Marine and Energy, and has appointed Chris Fenn and Julian Samuel as Managing Directors of the businesses.
The formation of the new divisions reflects the growth of Markel’s Marine and Energy business, which has become the single largest unit within the company, posting GWP of around $400 million.
Markel added that Paul Jenks, who has led the Marine and Energy business as Executive Director, will continue to play a critical role in the development of the new units.
William Stovin, President of Markel International, commented: ”As we plan for the long term success of our international, London based businesses, the new structure will give Chris and Julian and their teams the responsibilities for continuing the profitable development of their businesses.“
Markel’s London wholesale businesses will now be formed of three divisions: Marine, Energy, and Specialist and Financial Lines, with the latter led by James Hastings.
Markel writes insurance and reinsurance business through a total of six divisions and through offices across the UK, Europe, Canada, Latin America and Asia Pacific.
The company is a subsidiary of U.S-based holding company Markel Corporation, and its insuring entities include Syndicate 3000, Markel International Insurance Company Limited, Markel Insurance SE., Markel Resseguradora do Brasil S.A. and Markel Seguradora do Brasil S.A.