Markel

Markel adds Munich Re’s Umphress to lead North American terrorism team

Markel has expanded its global terrorism offering with the appointment of Andrew Umphress as head of terrorism, North America.

Markel: Large account D&O prices “continue to decrease somewhat inexplicably”

Markel has continued to decrease its writings in some professional liability lines, most notably in the large account public D&O space where the insurer remains “uncomfortable with the rate decreases and loss cost trends”, insurance president Jeremy Noble has commented.

Markel’s Noble: State National has “good” pipeline and will benefit from any dislocation in fronting space

Jeremy Noble has commented that Markel’s fronting subsidiary State National expanded a few strategic relationships in Q2 and has a good business development pipeline, with the executive also highlighting that the Nephila ILS operations are working hard to capitalise on current cat pricing despite AUM remaining unchanged.

Markel Q2 UW gain dips 11% to $145mn as insurance UW profits fall 19% to $135mn

Markel’s underwriting gain fell by 11 percent in the second quarter to $145mn, driven by a 19 percent drop in its insurance division’s underwriting profits to $135mn, which more than offset the reinsurance division almost tripling underwriting income to $15mn.

Markel Specialty hands Burgess, Colosimo, Huels, Pasik and Schauss senior promotions

Markel has handed senior promotions to five staff within its specialty division, with Alison Burgess, Vince Colosimo, Matt Huels, Tim Pasik and Mark Schauss all handed new roles.

Hagerty raises $105mn in capital with State Farm and Markel among investors

Hagerty has raised $105mn in capital from existing strategic investors State Farm, Markel Group and the Hagerty family, which the classic car MGA said will support its “profitable growth initiatives”.

Markel pulls admitted dwelling fire program from 10 states

Markel has taken “the difficult decision” to discontinue underwriting its admitted dwelling fire program in 10 states following a strategic review of the portfolio, The Insurer can reveal.

Markel Bermuda hires Aon’s Lehman in latest PSP departure

Markel Bermuda has recruited longtime Aon professional liability executive Marisa Lehman, a move that boosts Markel’s on-island operations and marks the latest senior departure from Aon’s Professional Services Practice (PSP), The Insurer can reveal.

Markel Specialty promotes Pollaro to PL exec underwriting officer

Markel Specialty has promoted Sal Pollaro to executive underwriting officer for professional liability, succeeding the retired Jim Gray in the role.

Markel names Houser chief wholesale officer and Gavlick chief retail officer

Markel’s specialty division has appointed Wendy Houser as its chief wholesale officer and Sarah Gavlick as chief retail officer, appointments the Glen Allen, Virginia-based firm said are aimed at addressing the unique needs of both its wholesale and retail business models.

ND panel: Cyber claims spike in recent years has helped carriers improve underwriting analysis

Executives speaking at a NetDiligence event on Wednesday said the increase in cyber claims volume in recent years has helped improve data quality, an evolution that is in turn allowing (re)insurance carriers to better underwrite the risk.

Markel rebrands after holding company name change

Markel Corporation has unveiled a new branding and logo in a move which the close to a century old business said provides “greater definition around the nature of [the] holding company”.

Markel’s Finsness: Casualty rates will stabilise once newer players “feel the pain too”

Casualty is facing a “stressful time” with rates softening while issues such as social inflation linger, but the market will stabilise once newer players start to feel more pressure, Mia Finsness, managing executive, global casualty underwriting and claims at Markel, has told The Insurer TV.

Markel boosts London political risk team with hire of Marsh’s Ozturk

Markel International has added to its political risk team with the addition of Kubra Ozturk as an underwriter.

Markel’s Noble: Strong pipeline of opportunities for program services and fronting arm

Markel insurance president Jeremy Noble said the firm’s program services and other fronting operations platform has a “strong pipeline” of opportunities ahead of it, with “cracks” appearing in some of the new entrants competing with State National in the space.

Markel trims Q1 PL and excess casualty writings over pricing concerns

Markel reduced its professional liability and excess casualty writings in Q1 2023 over growing discomfort with pricing trends, as the carrier’s insurance president Jeremy Noble warned the company will continue to let business that does not meet its rate adequacy threshold lapse.

Markel Q1 CR up 5.2 points to 94% as carrier reports continued stabilizing of rates

Markel’s combined ratio increased 5.2 points to 94.0 percent in Q1 2023 including an uptick in its current accident year loss ratio and reduced favourable prior year reserve development, while net premiums written (NPW) increased 2 percent to $2.2bn as rate rises continued to stabilize.

Markel hires AIG’s Dhillon as global head of cat and exposure management

Markel has named Amandeep Dhillon as managing director, global head of catastrophe and exposure management, with the new hire joining after nearly eight years at AIG.

Markel promotes Henry to COO of claims

Markel Corporation has appointed Richie Henry – who has been with the Richmond-based carrier for a decade – as chief operating officer, claims.

RPS unveils new artisan contractors GL program backed by Markel capacity

Risk Placement Services (RPS)’s small business platform has brought a new artisan contractors general liability program to market which will be underwritten by capacity from Markel.

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