Markel Insurance Restructures US, Bermuda Operations, With Leadership Appointments

Markel Insurance announced that its U.S. and Bermuda operations, previously known as Markel Specialty, are being divided into two business divisions: US Wholesale and Specialty, and Programs and Solutions.

The changes follow the appointment of Simon Wilson as chief executive officer of Markel Insurance in March and are part of a strategy to simplify and grow the business by giving local teams a greater degree of empowerment and accountability to serve the needs of their customers, Markel said in a statement.

“The best way to profitably grow a specialized and diversified business like ours is to equip and empower our local experts to serve the needs of the customers that they know best,” said Wilson. “These changes are an initial step to ensure that we have the divisional structure and leaders in place to do just that.”

The US Wholesale and Specialty division will be responsible for all US specialty insurance business that flows through the company’s core wholesale and retail channels, which will better position the company as it seeks to be a leader in the excess and surplus segment of the market, the company said.

Wendy Houser has been named president of the division. She has been with Markel for 16 years, serving as chief wholesale officer for Markel Specialty for the last two years and previously as chief territory officer. She sits on the board of the Wholesale & Specialty Insurance Association (WSIA).

The Programs and Solutions division will include Markel’s personal lines, Bermuda, surety, workers’ compensation, small commercial general package, programs and alliances and insurtech businesses. Creating this stand-alone division will enable the company to increase its focus on and investment in these specialized businesses, which have been proven winners over time, the company said.

Alex Martin, formerly president of Markel Specialty, will lead this division as president. Martin has been with Markel for 19 years, when he held leadership positions in operations, underwriting, business development, strategy and finance.

Additional Leadership Appointments

The company also announced the following key leadership appointments:

• Andrew McMellin has been appointed president, International, succeeding Simon Wilson, who was appointed to lead Markel Insurance in March. With more than 35 years of experience in specialty insurance, McMellin has led Markel’s International Wholesale division since joining the company in early 2022. Under his leadership, the International Wholesale team increased gross written premium by 43% and underwriting profit by 214%. Previously, his industry roles included chief executive roles at Pioneer Underwriters and XL Catlin. He has experience managing multibillion-dollar portfolios of specialty product lines and a track record of accelerating growth in new and existing markets, including Asia.

• Glenn Harris has been appointed chief commercial officer. In this role, Harris will ensure the voice of the customer has a constant place at the leadership table by coordinating with major trading partners to develop and maintain key strategic relationships. He has been with Markel for 15 years in a range of business development roles, most recently as managing executive, Global Distribution Strategies and Business Development.

• Henry Gardener has been appointed chief risk officer. In this role, Gardener will deliver a risk culture that matches Markel’s business ambition, centered around evaluating and taking the right risks to drive the business forward, the company said. He has been with Markel for 11 years, most recently serving as senior managing director of legal and chief risk officer, International.

In March, when Wilson was promoted to CEO of Markel Insurance, the company said, the restructuring of its management team was “part of a broader effort to sharpen the company’s customer focus by empowering each of their teams to serve the distinct needs of their respective markets.”

Source: Markel

Topics
USA
Leadership