Markel
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Since Simon Wilson was elevated to insurance CEO, the firm has been refocusing its underwriting. -
The international division is seeking a new London market manager.
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The state’s AG said the case threatens continued offshore oil and gas operations.
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Markel’s Bryan Sanders is receiving the Lifetime Achievement Award for his service to the industry.
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There will also be a renewed focus on organic growth, both in P&C and across US and international operations.
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The executive will oversee the direction and management of the firm’s liability portfolio across the US and Canada.
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The deal was announced last month.
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The company was right to drop its reinsurance unit and refocus on its specialty roots.
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The president expects to see benefits from the deal in H2 2026.
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Lion's share of Markel Re staff have been offered roles at Ryan, with others to work on run-off.
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The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Nationwide will delegate management of the policies to Ryan Specialty.
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Hagerty Re will now assume 100% of the premium and 100% of the risk.
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Finsness joined the carrier in 2014 and was head of casualty claims in Bermuda from 2017 to 2023.
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Markel is simplifying its structure from six US wholesale and two US retail regions to four integrated US regions.
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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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The latest E&S player planning to IPO remains a “show me” story.
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The moves come as the company said it will "double down" on US E&S.
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Customers are demanding more in a larger move towards the E&S market.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The business will divide into US wholesale and specialty, and programmes and solutions.
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The insurer has not yet announced a successor for the 32-year company veteran.
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Meco's 2024 gross written premiums totaled $63mn.
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Construction defects, GL and risk-managed professional liability lines saw the greatest headwinds.
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Markel also announced the appointment of Jon Michael to its board.
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Markel Insurance is made up of the firm’s three primary underwriting businesses.
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Markel had announced the exit from the line of business in the US last year.
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Technology is key to streamlining the value chain and mitigating loss ratios.
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Jana holds around 109,000 shares and 69,000 call options, at a $307mn total value.
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The group should also tilt capital allocation away from M&A and deepen its disclosure.
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The company did not take questions on its recently announced business review.
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The insurer acknowledged additional claims in 2025 would be “reasonably possible”.
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The specialty insurer reported favorable developments in both its insurance and reinsurance segments.
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The board will lead the review following feedback from shareholders including activist investor Jana.
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The carrier’s US platform will continue to be led by long-time executive Sal Pollaro.
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Fronting growth fell by half in 2024 due to uncertain loss climate and high cost of capital.
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The executive joins RPS after almost 12 years at Markel.
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The lawsuit involves an alleged $100mn+ Ponzi scheme.
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Executives noted that US casualty and professional lines development has been close to flat this year.
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The Insurance Insider US news team runs you through the earnings results for the day.
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This will not impact Markel International, which will continue to operate out of the UK.
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Mullarkey joins from Allianz Global Corporate & Specialty.
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State National will provide $160mn of coverage to James River as part of the deal.
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The Insurance Insider US news team runs you through the earnings results for the day.
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Markel acquired 98% of Valor last month and has the option to buy the remaining equity stakes.
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Jennifer Devereaux will provide overall leadership of casualty products.
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State National is providing $160mn of adverse development reinsurance coverage.
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State National has been lined up to front for the vehicle, which would be a rare example of third-party capital in this space.
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She will develop regional underwriting strategy and product offerings.
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Industry trends show the Axis book value growth goal may be hard to hit.
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She will oversee US and Bermuda claims operations.
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He brings 23 years of insurance industry experience.
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MGAs outpaced the P&C industry for years, but growth has begun to stagnate.
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The exits represent less than 2% of the company’s insurance segment operations annually.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The carrier stopped accepting new business starting February 7.
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Rodrigues’s retirement caps nine years with Markel.
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The executive discussed Markel’s performance in an annual shareholder letter.
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Commercial carrier earnings continue to show mixed prior-year development.
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Markel, Axis and Selective booked sizeable reserve charges in their liability segments.
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The carrier did not consider pursuing an LPT deal to address the GL and PL issues.
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The figure was disclosed in the group's recent 8-K disclosure.
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Insurance Insider US runs you through the earnings results for the day.
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The committee claims Chaucer waited until it had ‘maximum leverage’ over other debtors.
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Brian Costanzo, who joined the company in 2009, was previously CFO of Markel’s insurance business.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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After joining the firm in 2018 from Chubb, Cox oversaw the carrier’s Markel Specialty and Markel International divisions.
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This replaces a $750mn program authorized in February 2022, under which $633mn of the company's common stock was repurchased as of November 29.
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The programme services carrier will serve UK MGAs from 1 January.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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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.
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The Inside P&C news team runs you through the earnings results for the day.
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Markel named Alex Martin, Markel’s current CFO, as Sanders’ successor.
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The start-up MGU will initially focus on real estate, hospitality and leisure, financial institutions and professional services industries.
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Based in New York, the executive will report to Markel’s terrorism director Ed Winter, who is based in London.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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This is manifesting itself in sharp rate gains in the specialty insurer’s property book, while public D&O continues to decline at alarming rates.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The Inside P&C news team runs you through the earnings results for the day.
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The appointments include elevations within wholesale and retail distribution, as well as commercial lines and construction.
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Pollaro joined Markel in 2009 and most recently served as managing director of management and professional liability for Markel Specialty.
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Markel established the new positions to address the unique needs of its wholesale and retail business models.
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The company is making the change to provide greater definition around its three engines of insurance, investments, and a group of diverse businesses in Markel Ventures.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The loss portfolio transfer deal was completed in March of this year, covering £200mn of UK motor insurance claims.
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This may slow premium growth but ensure sustainability long term, according to its insurance president.
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Markel also disclosed that its Q1 2022 underwriting results included $35mn of losses attributed to the Russia-Ukraine conflict.
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He has over 15 years of experience in the insurance business, working in multiple areas, including catastrophe risk management and ceded reinsurance.
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The executive will be based in Markel's Glen Allen office and report to chief claims officer Nick Conca.
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Scott Bailey previously spent 12 years at CFC managing the technology and media division.
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Teri Gendron joins from Jefferies, where she served as chief financial officer since 2014.
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The move follows commentary on loss cost inflation exceeding rate rises in Q4 across Markel’s portfolio, driven by lines including public D&O and financial institutions.
