Reinsurance News
Markel
Markel UK partners with Cytora to streamline P&C risk intake
28th July 2021
Specialist insurer Markel UK has partnered with Cytora to deploy the insurtech's platform as the carrier looks to streamline its risk intake across UK property and casualty (P&C) lines of business. This partnership will enable Markel to enhance capacity and accelerate profitable growth, while giving brokers and clients better service. It's expected ... Read the full article
Markel adds Kristin Towse as speciality underwriting officer
6th July 2021
Markel Corporation has announced today that Kristin Towse has joined as Executive Underwriting Officer for its Specialty division. Towse will be responsible for leading the Products and Regulatory Services and Risk Solution Services teams. She will also be responsible for further building out Markel Specialty multiline capabilities, focusing on industry verticals. "Kristin's proven ... Read the full article
Simon Wilson to succeed Stovin as Markel Intl. President
29th June 2021
Financial holding company Markel Corporation has appointed Simon Wilson as president of Markel International. He will succeed William Stovin, who has led the subsidiary since 2008. The transition is part of a planned succession that will fully take effect no later than January 1, 2022. Stovin joined Markel as part of the ... Read the full article
Austral Re acquires Markel Brazil businesses
1st June 2021
Brazilian reinsurance company Austral Re has acquired the run-off reinsurance operations of Markel Resseguradora do Brasil, and its parent company Markel Participações (Markel Brasil), with the value of the deal not currently being disclosed. This marks Austral’s second acquisition within the last two years, as the reinsurer expands through the South ... Read the full article
Markel Specialty Programs hires Helen Xu as Senior Director
27th May 2021
Markel Corporation has appointed Helen Xu as Senior Director, Markel Specialty Programs. She will lead triaging and onboarding new programs as well as portfolio management for the existing and newly delegated programs for the Markel Specialty division. With over 20 years of experience, Xu’s most recent position was with QBE North America ... Read the full article
Markel promotes Castriotta to Managing Director, Global Cyber Underwriting Executive
20th May 2021
Financial holding company Markel Corporation has appointed Kelly Castriotta as Managing Director, Global Cyber Underwriting Executive. Castriotta will lead the global underwriting strategy for affirmative cyber products as well as cyber risks impacting various lines of business for Markel. She joined Markel last year to help strengthen cyber underwriting best practices and ... Read the full article
Markel’s combined ratio strengthens to 94% in Q1 2021
29th April 2021
Markel Corporation recently announced comprehensive net income of $358.9 million for the opening quarter of 2021, compared with a loss of more than $1.3 billion for the prior year quarter. The significantly improved result, year-on-year, also included net investment gains of $526.8 million in Q1 2021, compared with net investment losses ... Read the full article
Markel income drops by $1bn on investment hit
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
Markel hires Tom Williams as Environmental Product Line Leader
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
Markel hires Trevor Gandy to lead talent, diversity & inclusion initiatives
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
Markel Surety expands into National Accounts
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
Markel adds MS Amlin’s Sam Pik Ying as a specialist marine underwriter
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
Markel adds Mark Besca to Board of Directors
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
BI dispute has hurt industry reputation: Markel’s Richie Whitt
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
Investment gains lift Markel’s net income in Q3
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