Markel
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Acrisure entered into a definitive agreement with Markel in March to acquire the MGA. -
Markel UK has appointed Mark Plews as director of underwriting, replacing Simon Fell, who is to retire but will remain a consultant to support the transition process.
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Courts in Bermuda and the US approved the move, which had earlier been subject to investor litigation.
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His departure follows the closure of retro platform Lodgepine and Markel’s cat exit.
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The appointment marks Markel International’s entry into the US war and terrorism market.
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With a Bermuda court ruling still pending over the firm’s proposed buy-out, Markel has negotiated a deal to counter US litigation.
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The company has also divided its liability lines into two distinct teams, formally bringing Galleon, the MGA it bought in 2016, under cargo liability and marine professional indemnity.
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In his new role, Stephen Reilly will oversee “high value, complex, and disputed claims”, identifying claims trends, and legal developments.
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McMellin will replace James Hastings, who resigned in August.
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The Markel Catco Reinsurance Fund and Markel Catco Reinsurance Opportunities Fund have already had provisional liquidators appointed for restructuring purposes.
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Prior to joining Markel, Robert O’Connor-Mitchell spent nearly 12 years at trade credit insurance and surety firm Euler Hermes.
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The carriers’ losses stem from a placement covering losses ceded from the Mutual Risk Group, a group insurance arrangement consisting of 19 South African companies.
