Markel Corporation has created Markel Assurance, a new insurance division combining Markel’s wholesale (excess and surplus lines) and global insurance (complex, risk-managed accounts) divisions.
Markel Assurance will have underwriting teams located in Bermuda, Dublin, and London as well as across the US. It will be led by Bryan Sanders, president of Markel Wholesale. Britt Glisson, president of Markel Global Insurance, will assist in the transition and after a distinguished 40-year insurance career will be retiring in 2018. According to Markel the new division is expected to be operational by January 1, 2018.
“This move combines two talented and successful divisions and aligns our structure more closely with both production partners and customers,” said Richard R. Whitt, co-CEO of Markel. “We are committed to innovation and to making it easier to do business with Markel—establishing this new division accomplishes both of those objectives.”
Gross written premium of the combined division is approximately $1.8 billion and products will originate from three product lines—casualty, professional liability, and property/marine. The underwriting leads for these product lines will report to Robin Russo, Markel Corporation’s Chief Underwriting Officer. Markel’s other operating (re)insurance divisions are Markel Specialty, Markel International, and Markel Global Reinsurance.
Bryan Sanders added, “I am excited about our new structure and our improved alignment with both wholesalers and select retailers. We will have more resources, more products, and all of the long-term relationships that have brought us this far. We are bringing together a team that is experienced, connected to the market, and infused with an entrepreneurial sense of urgency. Creating this new division will help Markel maintain its leadership position and increase our market presence in both the wholesale and large account retail market place.”
Markel Corporation, Markel Assurance, Wholesale, E&S, Global insurance, Bryan Sanders, Britt Glisson, London, Dublin, Bermuda, North America