Markel says creation of $4bn Markel Specialty will be better for clients
Markel has said that merging its assurance and specialty divisions into one new division, which will be known as Markel Specialty going forward, will allow it to better serve its customers.
The change in the business, effective from April 1, will mean combining its Markel Specialty and Markel Assurance divisions into one division using the Markel Specialty name. Plans include preserving the regional model and adding two new overarching territories (East and West).
The unit, which will represent some $4 billion in gross written premium, will be run by Bryan Sanders, currently president of Markel's US Insurance operations and the Assurance division. He will become president of Markel Specialty under the change.
Sanders said: “This evolutionary change will make it even easier for our trading partners and customers to navigate Markel. By combining our Assurance and Specialty divisions, it will position us to get closer to and more efficiently serve our customers with unmatched underwriting expertise and competitive, industry-leading products.”
Intelligent Insurer also understands that the company plans to combine its data, technology, and other support functions as part of the change.
Others senior executives on the newly created Markel Specialty leadership team will include: Jim Arnold, as chief administrative officer; Glenn Harris, managing executive, distribution strategies & business development; Jeff Lamb, executive director, programs & alliances; Matt Parker, executive director, integration strategy; Jane Peterson, chief underwriting officer; and Scott Whitehead, managing director, insurtech underwriting.
In addition, the two newly-created territories will be led by two executive territory officers: Sarah Gavlick (East) and Wendy Houser (West).
Already registered?
Login to your account
If you don't have a login or your access has expired, you will need to purchase a subscription to gain access to this article, including all our online content.
For more information on individual annual subscriptions for full paid access and corporate subscription options please contact us.
To request a FREE 2-week trial subscription, please signup.
NOTE - this can take up to 48hrs to be approved.
For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk
Editor's picks
Editor's picks
More articles
Copyright © intelligentinsurer.com 2024 | Headless Content Management with Blaze