Insurer and reinsurer, Markel Corporation has announced the appointment of Julia Chu as its new Chief Risk Officer (CRO), effective immediately.
In her new role, she takes on responsibility for the company’s enterprise risk management, capital planning, and ceded reinsurance placements.
Markel notes that each of these functions serves an important role in managing insurance risk, and their combination under the leadership of Chu is expected to promote Markel’s strategy of using capital efficiently to create value for customers and shareholders.
In this role, she will report to Jeremy Noble, Markel’s Chief Financial Officer (CFO).
Prior to this appointment, Chu served as Markel’s Chief Global Ceded Reinsurance Officer, having joined the firm in March of 2018 from reinsurance broker Guy Carpenter. Chu worked at Guy Carpenter for almost 11 years, having joined from broker Aon Re in 2007. Prior to Aon, Chu worked as a Consulting Actuary at Milliman from 1996 to 2001.
Commenting on her appointment, Noble said: “This appointment reflects the contributions Julia has made to our enterprise risk management framework. She has played a key role in further developing and implementing Markel’s ceded reinsurance strategy and has been instrumental in positioning our reinsurance placements and partnering with executive leadership to build and protect Markel’s capital.
“As our new Chief Risk Officer, Julia will lead Markel’s end-to-end global approach to enterprise risk management, particularly with regards to our insurance-related business strategies and improving risk adjusted returns.”
