24 July 2017Insurance

Markel hires executive to lead new Lloyd's India business

Specialist insurer Markel International has appointed Deepika Mathur to lead its entry into the Indian market.

The capacity for the forthcoming Indian entity will be provided by Markel’s Syndicate 3000 at Lloyd’s and written through the Lloyd’s India platform, based in Mumbai.

According to the company, Markel India will focus initially on providing treaty and facultative reinsurance to local Indian insurers, in a broad range of commercial classes, including casualty, financial lines, as well as contingency, event, personal accident, trade credit, and marine and energy.

The business will be subject to approval from Lloyd’s and from the regulatory authorities in India.

Mathur joins Markel with over 20 years of experience in the Indian insurance industry. Most recently, she was executive vice president at HDFC Ergo, the Indian/German joint venture general insurance company, with responsibility for the casualty and financial lines business. She was also responsible for the launch of a number of specialty insurance products and for the company’s entry into the trade credit class. Prior to this, Mathur served as the head of financial products for Marsh in India.

"We have been interested in the Indian market for some time but have been waiting to find the right person to head up the business," said William Stovin, president of Markel International. "Deepika is exactly the sort of person we were looking for. She combines a high level of technical ability with proven management and active business development experience.

"With a 20 year career in the market, in both underwriting and broking, she has a very strong network of local contacts, which will be valuable in supporting the growth of our business. Markel gets into new markets by hiring exceptional local talent and Deepika is just such a hire," Stovin added.

Markel International currently operates in Brazil, China, Dubai and Singapore.

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27 July 2017   US-based Markel Corporation has entered into a definitive agreement to acquire State National Companies, a specialty provider of property/casualty insurance operating in two niche markets - programmes services and lender services, for approximately $919 million.
27 July 2017   Markel almost doubled its net income in the second quarter of 2017, and enjoyed steady growth along its US and international business segments, partially offset by a dip in its reinsurance.
5 October 2018   Specialist re/insurer Markel International has commenced writing business from its Mumbai office under the leadership of Deepika Mathur who has joined from HDFC Ergo.