Markel, the insurance operations within the Markel Group Inc., has announced the appointment of Steven Feng as underwriter for its Warranty and Indemnity (W&I) team.
In his new role, based in London, Feng will be responsible for underwriting the tax risks inherent in W&I transactions. He will report directly to Bryan Dressler, head of W&I at Markel’s international insurance business.
Feng’s skillset, Markel highlighted, complements the team’s existing strengths, which include experience in multiple insurance lines, financial due diligence, and investment rationale expertise, to create a model specifically tailored for small and medium-sized enterprise (SME) transactions in the UK and European Economic Area (EEA).
The new underwriter brings with him a wealth of experience, having spent more than nine years at professional services firm PwC.
After qualifying as an accountant in PWC’s Assurance team, he spent almost five years working within the organisation’s London Mergers & Acquisitions (M&A) Tax team, where he advised private equity clients on a variety of mid-market to high value transactions.
During this period, he held several senior roles which included senior associate for M&A tax and M&A tax manager, respectively.
Commenting on the appointment, Dressler said: “Markel’s W&I business line was established last year with the purpose of being able to systematically assess the primary pillars of W&I risk – insurance, financial, legal, and tax due diligence – to allow for a streamlined and steady experience for our brokers and insureds.
“Steven’s background in managing tax risks in line with the cadence of M&A fits this foundation perfectly. As an accomplished tax due diligence manager, Steven has the tools and focus to ask the right questions to arrive at the right insurance solutions for our clients at Markel. This will play a crucial role in our plans to continue driving profitable growth for the W&I portfolio and to harness insights from our valuable partnerships with coverholders.”
