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CEO Kieran Dempsey will relinquish the additional title of president. -
Price Forbes operations in Miami, Chile and Peru will report to Mulic.
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Consolidation options include fronts merging, competition, larger fronts becoming carriers and fronts being acquired by carriers.
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The segment’s underwriting results halved to $532mn in 2024 from $1.07bn in the prior year.
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Its full-year combined ratio for 2024 ballooned to 334.6%, from 124.7% in 2023.
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The underwriter will be based in New York and drive underwriting strategy.
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Markel also announced the appointment of Jon Michael to its board.
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Earlier today, Aon confirmed president Eric Andersen had stepped down from his role.
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BHSI is dividing its retail general property unit into four regions.
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Markel Insurance is made up of the firm’s three primary underwriting businesses.
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The executive will remain with the firm as a senior adviser to the CEO until mid-2026.
