Specialist insurer Markel, which has a major presence on Bermuda, has announced the streamlining of the leadership of its wholesale operation by appointing James Hastings as managing director of wholesale.
In his role, Hastings will report to William Stovin, president of Markel International, and will join the board of directors for Markel Syndicate Management and Markel International Insurance Company, subject to regulatory approval.
Hastings joined Markel International in 2013, as managing director of professional and financial risks and was later promoted to head up the specialty and financial lines division, in 2016.
The wholesale unit will operate with seven divisions, led by the following divisional managing directors (DMDs), based in London: Scott Bailey for cyber; Rohan Davies for energy; Chris Fenn for marine; James Leach for personal accident, contingency and entertainment; Juliet Redfern for equine and livestock; Ewa Rose for trade credit, political risk and surety; and David Sawyer for professional and financial risks. Each DMD will report directly into Hastings.
In addition, Christian Stobbs, managing director for Asia, will report to Hastings, as part of the restructure. The changes to the leadership structure are designed to allow a more focused approach to how the business operates, how it meets the needs of broking clients and customers and how it identifies opportunities for growth and product development. It will also deliver operational efficiencies, in particular around data analytics, technology and marketing and communications.
William Stovin, president of Markel International, said: “We have seen significant growth over recent years and we now have two very clear operations, wholesale and national markets. It is important that both have a leader, James for wholesale and Henrik Bjornstad for national markets, with ultimate accountability to provide strategic direction for each division, but to also recognise opportunities for synergy across both.
He added: “James has consistently demonstrated a drive and passion for progress, which along with his membership of the Markel International ExCo, since January 2018, makes him ideally placed to deliver our goals for the wholesale business. The strength in depth of this newly formed management team creates a fantastic platform from which we can attack future opportunities and drive profitable growth.”
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