Marine
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The Canadian insurer saw property rates dip across its global divisions, but it had strong rate on liability. -
The executive has been with the company for roughly one year.
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Staff targeted include producers that channel business through Howden’s London wholesale arm.
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The executive has spent 13 years in the broker’s marine division.
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The unit will include both ocean and inland marine coverage.
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The carrier has scaled up its international insurance offering in recent years.
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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU.
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Politically related exposures are growing for the marine market.
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The underwriter has held positions at The Hanover, Liberty Mutual and Zurich.
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The appointment is part of the company’s expansion in the marine market.
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Meco's 2024 gross written premiums totaled $63mn.
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Technical pricing is insufficient in some areas and inflation is biting into margins.
