Reinsurance News
3rd February 2021
Financial holding company Markel Corporation has reported a $1 billion drop in its net income for 2020, which stood at $797.6 million at the end of the year, versus $1.790 billion in 2019. The difference is almost entirely attributable to a corresponding $1 billion drop in net investment gains, which totaled ... Read the full article
15th January 2021
Financial holding company Markel Corporation has appointed Tom Williams as Environmental Product Line Leader, where he will lead the environmental team for the Markel Specialty division. Williams previously worked at Allianz Global Corporate & Specialty, where he was the environmental practice group leader for five years. Prior to this, he worked for ... Read the full article
8th January 2021
Markel Corporation has announced the appointment of Trevor Gandy as Managing Director for Talent, Diversity and Inclusion, effective January 1, 2021. In this new role, Gandy will further shape the company's diversity, equity, and inclusion strategy for its global workforce. He will work closely with Markel’s human resources leadership team and its ... Read the full article
6th January 2021
Markel Surety, a part of Markel Corporation's specialty division, has announced the establishment of a National Accounts segment. Michael Bond, who joined Markel on December 31, will lead the new unit. He previously served as the US head of surety for both Euler Hermes and Zurich Surety. The target market for the National ... Read the full article
2nd December 2020
Markel International, a specialist insurer and reinsurer, has announced the addition of Sam Pik Ying as a specialist marine underwriter, based in the firm's Singapore office. In her new role, Ying will underwrite general marine and marine liabilities, including ship-owners P&I, charterers, ship repairs and marina operations, alongside energy liability business. She ... Read the full article
24th November 2020
Financial holding company Markel Corporation has announced the appointment of Mark M. Besca to its board of directors. Besca served as a consultant to Ernst & Young, having retired from the company in June 2020 after a 42-year career with the multinational professional services firm. From 2009 to 2011, he served as ... Read the full article
10th November 2020
Richie Whitt, Co-CEO of Markel, has warned that the re/insurance industry’s response to the dispute around COVID-19 business interruption (BI) claims may have a long-term negative impact on its reputation. Speaking with Andy Marcell, CEO of Reinsurance Solutions at Aon, as part of the broker’s series of virtual ‘fireside chats’, Whitt ... Read the full article
28th October 2020
Markel Corporation has reported an increase in comprehensive income for the third-quarter of 2020 to $520 million, while the company's combined ratio deteriorated by three percentage points, year-on-year, to 97%. Comprehensive income jumped by around 108% in Q3 2020 from the same period last year. However, for the first nine months ... Read the full article
26th October 2020
Financial holding company Markel Corporation has announced the appointment of Adriana Belli as Managing Director, Property, Marine and Select Risk (PMSR) Claims Division. In this role, she will oversee all aspects of the PMSR Claims Division, managing a team of more than 80 claims professionals throughout the United States. Belli has more ... Read the full article
16th October 2020
Financial holding company Markel has partnered with Tangram on a program to provide excess liability above Tangram's current program in propane and fuel distribution niche. Tangram is a Managing General Agency whose program targets dealers and distributors of fuel oil, propane, diesel and gasoline. With the additional capacity, Tangram's program now has ... Read the full article
7th October 2020
Financial holding company Markel is set to consolidate its property catastrophe reinsurance business under the Nephila brand. The consolidation will see Markel refocus its global reinsurance unit towards underwriting and growing its casualty and specialty lines. While some of the unit's employees may have the opportunity to join the Nephila team, Markel ... Read the full article
4th September 2020
Markel Corporation has announced the appointment of Kelly Castriotta as Senior Director, Global Cyber Underwriting. Castriotta reports to Kara Owens, Managing Director, Global Cyber Underwriting Executive, and is based out of Markel's Chicago office. She joins from Allianz where she served as head of cyber underwriting and product development for financial lines. In ... Read the full article
25th August 2020
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 ... Read the full article
24th August 2020
Markel Corporation has announced the appointment of Lynne Puckett to its board of directors. Puckett’s current role is the senior vice president and general counsel of Celanese Corporation, an international tech firm in the production of specialty materials and chemical products. Steve Markel, chairman of the board at Markel, commented: "We are ... Read the full article
29th July 2020
Markel Corporation has reported that its comprehensive income increased by 75% to $1.09 billion in the second quarter of 2020, as investment gains recovered following an initial Q1 COVID-19 shock. Comprehensive income was up from $623.3 million in Q2 2019, and the company’s combined ratio similarly improved from 95% to 88%. Net ... Read the full article
