Markel International, a subsidiary of Markel Corporation, has announced that it will merge its professional and financial risks (PFR) division with its recently expanded cyber team.
The decision to merge the two division together is part of the businesses efforts to simplify the trading experience for its broking partners, and to make its product offerings to insureds as innovative, comprehensive, and relevant as possible, within a fast-moving and increasingly complex risk environment.
Markel International has also confirmed that David Sawyer, who joined the firm in 2015, will take an expanded responsibility for the combined divisions as divisional managing director of PFR and Cyber.
At the same time, Chris Burgess will continue to lead the London-based cyber team, and will now also report into Sawyer, with a role that will see an increased focus on developing growth potential for the business line.
Moreover, Markel’s commitment to its cyber team has been reflected within its recent appointments to position it for further profitable growth.
Ed Rawe, who joined Markel in 2021, has been promoted to senior cyber underwriter. Allianz Global Corporate & Specialty’s Lewis Bennett, has joined as senior cyber underwriter, Dan Fox from Aspen Insurance Group has joined the company as a senior underwriter, and Ollie Carroll has joined the team as an assistant underwriter.
Andrew McMellin, managing director of wholesale at Markel International, said: “When Markel started writing cyber business almost ten years ago, clients were facing a very different, and significantly less complex risk landscape than the one they face today. Cyber risks have gained prominence and are now intertwined with other business lines, especially those that sit under our PFR division. When we were looking at how we can keep our business relevant and tailored for our clients, we saw many benefits in the merging of the two divisions.
“It will mean that our cyber underwriters will be able to align themselves more closely with our PFR teams, allowing them to plan and innovate collaboratively, and bring about a more holistic approach to our cyber offering, to the benefit of our broking partners and end clients.”
Sawyer, commented: “We have highly skilled and well-respected cyber underwriters and I look forward to working with Chris and the rest of the team, as we continue to expand our combined offering for our brokers and clients.”
