Reinsurance News
Markel
Markel provides insurance and reinsurance solutions operating out of the US, Bermuda and other global locations.
The insurance arm of the Markel Group includes, Markel Specialty, Markel International and Markel Global Reinsurance, as well as State National, which manages portfolio protection and program services, and Nephila Capital, which is a specialist insurance-linked securities operation.
Read our Markel insurance or reinsurance news and analysis below.
Markel falls to $367m loss on investment volatility
2nd November 2022
US re/insurer Markel Corporation has reported a comprehensive loss of $367.4 million for the third quarter of 2022, due mainly to investment losses and unrealized losses on its fixed maturity portfolio. The loss compares to a positive result of $80.2 million for the same period last year, and brings Markel’s overall ... Read the full article
Markel & Budget Guard partner on equipment maintenance policy
5th October 2022
Budget Guard Holdings, an independently owned insurance agency, has been appointed as the Program Administrator for Markel's stand-alone equipment maintenance insurance policy to its inland marine suite of products. The new equipment maintenance insurance policy offering aims to provide a way for organizations to consolidate multiple equipment service contracts into a ... Read the full article
Markel International boosts wholesale claims leadership team
23rd September 2022
Markel International, a subsidiary of Markel Corporation has announced three senior promotions within its wholesale claims operation. Under the new leadership team, Jonathan Pestell will assume the role of head of claims performance for speciality. Within this role he will focus on driving broker engagement, while identifying areas to strengthen Markel's claims service ... Read the full article
Markel promotes Maxwell to Managing Director, Commercial Excess Wholesale
22nd September 2022
Markel Corporation has announced that Sarah Maxwell has been promoted to Managing Director, Commercial Excess Wholesale, for the Markel Specialty division. Within this new role, she will be responsible for leading the commercial excess wholesale product line. Maxwell will be based in Markel’s Glen Allen, Virginia office, and she will report to Tim ... Read the full article
Jed Rhoads to retire as President & CUO of Markel’s reinsurance division
8th September 2022
Markel Corporation has announced that Jed Rhoads, President, and Chief Underwriting Officer of its Global Reinsurance Division, is retiring at the end of 2022. Rhoads has worked in the industry for more than four decades, having held executive positions with several leading organisations. He joined Markel in 2013 as part of ... Read the full article
Markel appoints Belvedere as Senior Director, Retail Business Development
24th August 2022
Markel Corporation has appointed Chris Belvedere as Senior Director, Retail Business Development. In this role, Belvedere will oversee national business development focusing on retail, particularly with Markel's strategic and national partners. Belvedere brings over fifteen years of experience towards the role. He has worked in previous leadership underwriting roles, where he oversaw ... Read the full article
Markel reports premium growth, but heavy investment loss dents 2022 performance
3rd August 2022
Markel Corporation earned premiums grew 17% in the second quarter of 2022, yet high investment losses have hurt the company’s performance. The re/insurer earned premiums grew to $1.83bn compared to the $1.56bn reported in Q2 2021; according to the re/insurer, this improvement reflects continued growth in gross premium volume from new ... Read the full article
Markel appoints Tim Pasik to lead commercial casualty product lines
22nd July 2022
Markel Corporation has announced that Tim Pasik has been appointed Managing Director, Commercial Casualty Product Lines Leader for Markel Specialty's insurance operations. In his new role, Pasik will provide oversight for Markel Specialty's commercial primary and excess - retail and wholesale - product lines. Alan Rodrigues, Executive Underwriting Officer, Casualty, said: "We're ... Read the full article
Hourly.io appoints Markel’s Jerico Vinsonhaler as Head of Underwriting
19th July 2022
Fast-growing insurtech start-up, Hourly.io has appoint former Markel executive Jerico Vinsonhaler to serve as Head of Underwriting. Within this role, Vinsonhaler will oversee Hourly's overall underwriting strategy, portfolio management, as well as manage its underwriting team. Vinsonhaler spent 20 years at Markel, where she led the firms underwriting strategy. Prior to Markel, she ... Read the full article
Markel forms complex construction team
1st July 2022
Markel has announced the formation of a new Complex Construction team that will provide coordinated service to major accounts in this industry. The new Complex Construction team brings together dedicated underwriters and other specialists in areas such as claims and loss control, who are all well positioned to ... Read the full article
First Indemnity secures extra capacity with State National
28th June 2022
First Indemnity Insurance Group, an agency dedicated to liability products for the legal profession, has secured further underwriting capacity with the addition of State National Insurance Company, Inc. State National, a program and fronting specialist insurer owned by re/insurer Markel, is located in the Dallas-Fort Worth area of Texas. The ... Read the full article
Social inflation in casualty insurance one of the most concerning trends
20th June 2022
Social inflation has been named one of the most concerning trends by insurers speaking on the second day of S&P Global Ratings' 38th Annual Insurance Conference. In a panel discussion, Kristof Terryn, CEO of Zurich North America, said that ‘social inflation’ on the casualty side was the one trend worrying him ... Read the full article
Markel Intl. appoints Bryan Dressler Head to senior W&I role
9th June 2022
Markel International has announced that it has appointed Bryan Dressler as Head of warranty and indemnity (W&I) for its professional and financial risk (PFR) division. He will be based at Markel’s London officer and will report to David Sawyer, divisional managing director of PFR at Markel International. Within his new role, Dressler will be ... Read the full article
Appetite for underwriting property cat reinsurance business tightening
1st June 2022
Earnings pressure and ongoing uncertainty around the impact of climate change is reducing the appetite for underwriting property catastrophe reinsurance business, says the newest edition of Aon’s Reinsurance Aggregate (ARA). The study said that while the sector should be ‘applauded’ for dealing with significant volatility over the last five years and ... Read the full article
Buffett’s Berkshire takes $620m stake in Markel
17th May 2022
Berkshire Hathaway, the Warren Buffett-run holding company and conglomerate, took a $620 million stake in insurance and reinsurance provider Markel Corporation as part of a raft of investments during the first quarter of 2022. Analysts at KBW estimate that the value of Berkshire's equity portfolio has fallen by about $39.0 billion ... Read the full article
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