Markel Assurance FAQs
Why are we combining Wholesale and Global Insurance?
As part of our profitable growth strategy and to better serve our customers, we are combining the Wholesale Division and Global Insurance Division into one unit called Markel Assurance. We want to align our structure more closely with both production partners and customers.
What are the benefits to this change?
Creating one unified division will better support our commitment to innovation and ensure that Markel is easy to do business with. The combined team will help Markel maintain its leadership position and increase our market presence.
When will this change take place?
The effective date of this combination and any related leadership changes is January 1, 2018. This will allow us to identify and deploy best practices and to go through the budget and planning process in the fall.
Is this consistent with our overall corporate goals?
Yes, as outlined in our corporate priorities we want to encourage a culture of continuous improvement and become scalable to facilitate profitable revenue growth. This shift will bring together two talented and successful divisions to help Markel maintain its leadership position and increase our market presence.
How will Markel Assurance and the product group work together?
Going forward, we will be dividing underwriting responsibilities by size, complexity and distribution channel. More conventional risks will be underwritten by regional office-based teams in much the same way as they are today. Those underwriters will report up to the regional presidents. Complex, risk-managed accounts will be underwritten in one of three product lines – casualty, professional liability, and property/marine. The leaders of the product verticals will report to Robin Russo, Chief Underwriting Officer. Underwriters of large accounts will report up to the leaders of the product lines.
What is the leadership structure of the new division?
Bryan Sanders will lead the new division and his management team will include Jeff Lamb, Chief Operating Officer, Jim Arnold, Chief Administrative Officer, Glenn Harris Wholesale Sales and Marketing Executive, and Denise Perlman, Retail Sales and Marketing Executive. The Regional Presidents will report to Jeff Lamb. The Product Line leaders who report to Robin Russo will work closely with the new division to provide underwriting support.
Are there any changes to the locations of the regions?
The new Southeast Region will be created from the existing region and be headquartered in Alpharetta, GA. The Southeast Region will serve GA, FL and AL and Nick Abraham will be the Regional President. We are also forming a new Mid-Atlantic region which will be headquartered in Glen Allen, VA and led by Steve Girard. There are no other regional office changes.
How will the state assignments and regional presidents’ change with the new region?
The following lists each region, the states they will serve and the Regional President in the new structure.
Why did we create a sixth region?
| Regional President
| DC, DE, KY, MD, NC, PA, SC, TN, VA, WV
|| Steve Girard
| AR, CO, LA, MS, NM, OK, TX
|| Wendy Houser
|| IL, IN, IA, KS, MI, MN, MO, NE, ND, OH, SD, WI
| Mimi Fiske
|| CT, ME, MA, NH, NJ, NY, RI, VT
|| Sarah Gavlick
| AL, FL, GA, PR
|| Nick Abraham
| AK, AZ, CA, HI, ID, MT, NV, OR, UT, WA, WY
|| Brian Gray
Given the importance of Atlanta as a key market for insurance we wanted to strengthen the Markel presence there. In addition we have identified significant growth potential in the Mid-Atlantic and the new structure will provide the necessary focus to drive this expansion.
What distribution channels will be in focus?
The regional teams will be positioned to enhance our product offerings and standing with both wholesale and retail distribution. Distribution channel strategy will vary by product, the intention being to offer complementary and market leading products in both channels as appropriate.
What are the main product line groupings?
Products will originate from three main product lines - professional liability led by Jim Gray, property and marine led by Jon Hahn and casualty led by Alan Rodrigues. The leaders of each of the three product lines will report directly to Robin Russo, Chief Underwriting Officer.
Will there be any changes to the Product Line Leadership and Affiliated Underwriting (AUG) structure?
The Affiliated Underwriting Groups will remain in place to provide cross division coordination of underwriting activity, Alan Rodrigues will become the line of business executive lead for the Casualty AUG. The restructured Product Line Leadership team will support Markel Assurance.
Will these changes include the Global Insurance teams in Bermuda, Dublin and London?
Yes, the combination of Wholesale and Global Insurance will include all associates across Markel who currently report to these divisions.
Is this organizational structure common in the industry?
Yes, as part of the work to design this new organization we commissioned a comprehensive study of peer company organization structures, we identified a number of common themes and guiding principles and the new design is similar to many in the industry.
Will we continue writing on the same insuring entity paper?
Yes, there will be no change to the insuring entity paper.