Reinsurance News
Markel
Markel adds Tim Woodhouse to War and Terrorism team
29th November 2023
Markel, the insurance subsidiary of Markel Group Inc., has appointed Tim Woodhouse as Senior Underwriter within its War and Terrorism team, based at the firm's London office and reporting to Ed Winter, Director of Terrorism. The appointment is in line with Markel’s continued dedication to enhancing its terrorism and political violence ... Read the full article
Markel’s State National set to enter UK market in 2024
28th November 2023
State National Companies, the Markel owned program, is set to enter the UK market beginning January 1, 2024. According to the announcement, State National is partnering with Markel International Insurance Company Limited to create a program services division in the UK to serve managing general agents (MGA). The division will focus on ... Read the full article
Markel adds AIG’s Chris Conyard to DS&BD team
6th November 2023
Markel, the insurance operation within Markel Group Inc., has announced the appointment of Chris Conyard as Digital & Portfolio Executive in its distribution strategies and business development (DS&BD) team. Based in London, Conyard will work closely with the underwriting and business development teams to support Markel’s long-term sustainable growth and operational ... Read the full article
Markel anticipates firm & constructive property pricing environment in 2024
2nd November 2023
Markel has suggested that the property market pricing environment should be "firm and constructive" going into 2024, with the company noting it has the ability to deploy more capital there should it choose to do so. These comments stem from Markel's Q3 earnings call, in which Jeremy Noble, President of Insurance, ... Read the full article
Markel reports 9M’23 net income but combined ratio weakens
2nd November 2023
Insurer Markel Group has reported a higher combined ratio for both Q3 and 9M 2023 on the back of a higher attritional loss ratio and less favourable prior year reserve development, but has reported comprehensive income of more than $1.1 billion for the nine month period compared with a loss ... Read the full article
Markel expands leadership team in Australia with senior hires
31st October 2023
Markel, the insurance operation within Markel Group Inc., has expanded its leadership team in Australia with the appointments of Ahmed Farag as Head of Casualty and Kym Beazleigh as Head of Professional and Financial Risk (PFR) and Head of Sydney. Markel describes Farag as having a strong reputation in the Casualty ... Read the full article
Alex Martin appointed Markel Specialty President as Bryan Sanders is to retire from the role
27th October 2023
Markel, the insurance operations within Markel Group, has announced the retirement of Bryan Sanders, President of its Markel Specialty division; Alex Martin is to take over the role. Sanders plans to retire by December 31, 2024. Effective December 1, 2023, he will transition to the role of Chairman, Markel Specialty, and ... Read the full article
Markel announces strategic investment in tax MGA Certa
20th October 2023
Markel, the insurance operation within Markel Group Inc., has announced a 49% strategic investment in tax managing general agent (MGA), Certa. This move will accelerate the company’s UK-based tax specialist’s product development and geographical expansion plans, Markel stated. At the same time, it will give the insurer further access to the significant ... Read the full article
Markel Australia hires Stephen Rogers as Head of Queensland
19th October 2023
Markel, a global specialty insurer, has announced the appointment of Stephen Rogers as Head of Queensland. According to the firm, Rogers' appointment furthers the company's mission to serve the Australian market with a high-quality local presence. Based in Brisbane, Rogers is Markel's second appointment in Australia, and he will report to Melbourne-based ... Read the full article
Markel sees underwriting productivity increase following Cytora partnership
25th September 2023
Specialty insurer Markel and insurtech Cytora have announced that their recent partnership has resulted in a 113% increase in productivity (GWP per FTE) for Markel’s underwriting team. "Cytora has been working with Markel since 2021 to transform its underwriting process into digital workflows by leveraging AI to automate pre-underwriting activities, perform ... Read the full article
Markel strengthens in Australia with in-country leader & new offices
14th September 2023
Markel has announced the appointment of Rory Morison as the Managing Director of its Australian business, who will lead three new offices in the country that are set to open this month. The new offices are based in Sydney, Melbourne, and Brisbane. Markel Australia will focus on providing underwriting solutions to ... Read the full article
Markel joins Vesttoo bankruptcy case over $127.75m fraudulent LOCs
1st September 2023
Markel Bermuda Limited (MBL), part of insurer and reinsurer Markel Group, has been appointed to the statutory committee of unsecured creditors in the U.S. Chapter 11 bankruptcy of insurtech Vesttoo, the company has announced. MBL is a class 4 Bermuda insurer and forms part of Markel's global specialty insurance business. The company ... Read the full article
Markel grows W&I team with Steven Feng’s appointment
10th August 2023
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 ... Read the full article
Markel taps Swiss Re veteran as its new CUO for APAC
4th July 2023
Markel Group Inc.'s insurance subsidiary, Markel has announced the appointment of Kevin Leung as Chief Underwriting Officer (CUO) for its Asia Pacific (APAC) operations. He will report to Christian Stobbs, Managing Director of Markel’s International division in Asia Pacific, and will be based in Singapore. In his new role, Leung's remit ... Read the full article
Sal Pollaro named Exec Underwriting Officer of Professional Liability at Markel Specialty
12th June 2023
Markel, the insurance operations within the Markel Group, has announced the appointment of Sal Pollaro as its Executive Underwriting Officer of Professional Liability for Markel Specialty, a division within the Markel insurance business. In his new role, Pollaro will lead the professional liability team to generate profitable growth. His remit will ... Read the full article