Markel
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The firm’s insurance LR rose to 60.7% from 49.1%, while the reinsurance LR moved down to 58.7% from 64.1%. -
The book of business was performing poorly, and was exposed to major claims from the 2021 Huntington Beach oil spill in California.
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Group CFO and incoming president of insurance Jeremy Noble has told Inside P&C that the insurance operation is where Markel sees the most upside potential.
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The carrier also promoted Emma Higgins to head of catastrophe management, the role vacated by Green.
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The platform will automate a range of processes across risk submission, risk appetite evaluation, underwriting and pricing for quotation, using a lead algorithm.
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Following Whitt’s retirement, co-CEO Thomas Gayner will become sole chief executive, while SVP and CFO Jeremy Noble will become president.
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The carrier has merged its marine and energy units as it looks to improve service and achieve growth.
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Rhoads joined Markel in 2013 as part of its acquisition of Alterra Capital Holdings Limited.
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It is understood Markel is the lead insurer and Aon’s Risk Solutions is the broker on the $200mn policy.
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Dan Martin takes on the role from Pat Murphy-O’Connor, who will transition to a consultancy position ahead of his retirement at the end of 2022.
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The underwriter originally joined Optio in 2020 as a senior underwriter.
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The appointment of Pushpa Sriwignarajah comes amid change within the Hiscox cyber team.
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