Markel
-
Panellists agreed a soft market should not dampen product development. -
Rohan Davies joined Markel International 17 years ago as an underwriter.
-
The insurer continues to exit or reduce unprofitable lines and slowed growth as a result.
-
The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis.
-
The international division is seeking a new London market manager.
-
Carriers are rethinking the traditional renewal-rights model.
-
The underwriter has worked for Markel in Singapore since 2020.
-
There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
-
Insight into the state of the insurance M&A market, powered by this publication's deal database.
-
Rates are bottoming out, but ample capacity is still preventing a hardening market.
-
The deal was announced last month.
-
Ex-Tysers chairperson Dan Lott heads the consultancy as CEO.
-
A majority of staff not offered jobs at Ryan Re will remain at Markel to manage the run-off.
-
The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
-
Stacey Hinton and Max Elliot are set to join Ark from Markel International.
-
Nationwide will delegate management of the policies to Ryan Specialty.
-
The carrier’s president Andrew McMellin is aiming to double London market share in the next five years.
-
Nick Line has spent 28 years at Markel, where he has been CUO since 2018.
-
The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.
-
Lee Mooney will replace Neil Galjaard, subject to regulatory approval.
-
Markel is prominent in the growing smart-follow market.
-
Markel International has also hired senior underwriter Keely Madden.
-
The product protects insureds outside of warzones from conflict-related cyberattacks.
-
The business will divide into US wholesale and specialty, and programmes and solutions.
-
Meco's 2024 gross written premiums totaled $63mn.
-
Current specie head Victoria Bell is leaving Argenta to join Axis.
-
The product supports investors of early-stage carbon removal projects.
-
Markel also announced the appointment of Jon Michael to its board.
-
Markel Insurance is made up of the firm’s three primary underwriting businesses.
-
Markel’s move follows recent market entrances by CinFin, Argenta and Fidelis.
-
Jana holds around 109,000 shares and 69,000 call options, at a $307mn total value.
-
The company did not take questions on its recently announced business review.
-
The insurer acknowledged additional claims in 2025 would be “reasonably possible”.
-
The specialty insurer reported favorable developments in both its insurance and reinsurance segments.
-
The board will lead the review following feedback from shareholders including activist investor Jana.
-
The carrier’s US platform will continue to be led by long-time executive Sal Pollaro.
-
The MGA has faced high claims activity on its energy liability book, fuelled by social inflation.
-
The political violence market is in a competitive stage thanks to an influx of capacity.
-
Aon announced in early December that it had expanded ACT to offer 28.5% capacity for 2025.
-
The underwriter worked for Markel for a decade.
-
The executive said that capital, tech and algorithmic capabilities would help the structures endure.
-
Davide Pressman was a marine cargo underwriter at Aegis for under two years.
-
A significant amount of new capacity has flowed into the political violence and terror market in recent months.
-
This will not impact Markel International, which will continue to operate out of the UK.
-
Smith joins from QBE Insurance, where he spent over 13 years.
-
-
He brings 23 years of insurance industry experience.
-
She joined the carrier as an underwriting assistant over 11 years ago.
-
-
The underwriter will report to Juliet Redfern in the new position.
-
Slipstream will be available to marine, cargo and logistics UK clients.
-
The executive discussed Markel’s performance in an annual shareholder letter.
-
The carrier has been hiring after the launch of a new specialty practice.
-
The carriers were in arbitration with UnipolRe and Gen Re.
-
Paul Western has been promoted to head of hull underwriting.
-
The carrier did not consider pursuing an LPT deal to address the GL and PL issues.
-
The figure was disclosed in the group's recent 8-K disclosure.
-
The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
-
The carrier is expanding its marine footprint in 2024 through its Lloyd’s and London branch.
-
Rice has been appointed as senior underwriter and head of business development for Europe.
-
The carrier has also appointed Tom Hillier’s Brit colleague Graeme Ivory as director of international casualty.
-
Woodhouse will be based in London and report to Ed Winter, director of terrorism.
-
The programme services carrier will serve UK MGAs from 1 January.
-
A credit loss owing to a fraudulent letter of credit from Vestto added 1 point to the combined ratio in Q3, insurance president Jeremy Noble told analysts during a conference call.
-
Rory Morison was hired last month to lead the Australian business.
-
The carrier was one of Certa’s original capacity providers at its 2019 launch.
-
Richard Burnett will take up the strategic position as head of cargo underwriting.
-
Demand for specialty commercial insurance in Australia has been increasing, driven in part by the growth of the digital economy alongside traditional industries.
-
Markel Bermuda entered into two collateralized reinsurance transactions with White Rock for the benefit of a segregated account owned by a Vesttoo affiliate.
-
Based in New York, the executive will report to Markel’s terrorism director Ed Winter, who is based in London.
-
The executive was chief actuary for Travelers’ Lloyd’s business and Creechurch Underwriting.
-
The underwriter led the division specialising in marine and energy liability.
-
Securities filings show the conglomerate’s ownership of Markel holdings was valued at over $600mn at the end of March.
-
The carrier has also hired Paul Cunningham from Talbot to lead the claims function of its newly launched marine team.
-
The loss portfolio transfer deal was completed in March of this year, covering £200mn of UK motor insurance claims.
-
The LPT covers both settled and unsettled claims, taking on “a lot of variability” and potential exposure in terms of the reserve, Marco said.
-
Hutchins will report to Bryan Dressler, head of W&I at Markel International.
-
Scott Bailey previously spent 12 years at CFC managing the technology and media division.
-
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.
-
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.
-
The carrier also promoted Emma Higgins to head of catastrophe management, the role vacated by Green.
-
The platform will automate a range of processes across risk submission, risk appetite evaluation, underwriting and pricing for quotation, using a lead algorithm.
-
Following Whitt’s retirement, co-CEO Thomas Gayner will become sole chief executive, while SVP and CFO Jeremy Noble will become president.
