Markel lines up new chief of ‘transformed’ specialty business

Markel, the insurance operations within  Markel Group, has appointed a new leadership for its specialty business, which it says has been “transformed” under its president Bryan Sanders (pictured).

Sanders, the president of Markel’s specialty division, is to retire from his role by December 31, 2024.

Sanders, who joined the re/insurer when it took over Bermuda-based Alterra Capital Holdings in 2013, is being succeeded as president of Markel Specialty by Alex Martin, who is currently Markel's chief financial officer.

Brian Costanzo is named new CFO, Markel. Guenter Kryszon is named chief underwriting officer, Markel Specialty, and Ryan Oosterheert is named chief operations officer, Markel Specialty.

Costanzo will report to Jeremy Noble, president, Markel, who said: “Bryan Sanders is retiring after a highly successful insurance career spanning four-plus decades, during which he has led several major initiatives that have transformed our US and Bermuda operations to best meet the needs of our clients.

"Thanks to Bryan's leadership and the extensive industry relationships he has built, and with a strong team in place led by Alex Martin, Markel Specialty is well positioned to continue to build on our solid brand and reputation, as well as deliver against our long-term profitable growth ambitions."

Noble added: “We are grateful to Bryan Sanders for his many contributions, including his support for developing an outstanding leadership team at Markel—one that reflects the strength of our people-powered culture.

“This thoughtful and intentional transition speaks to the depth of talent within Markel. With an exceptional set of leaders across our business, I am extremely optimistic that we will further strengthen our position in the marketplace, as well as execute on our continued transformation as we build the leading global specialty insurer.”

Sanders has more than 42 years in the insurance industry. Before assuming his current position in 2020, he served as President of Markel Wholesale from 2014 to 2017, and President of Markel Assurance from 2018 to 2020.

"Serving as president of Markel Specialty has been an honor, and I am committed to working with Alex and the Markel Specialty leadership team to achieve a seamless transition as we continue to execute on our strategic priorities and plans," Sanders said. "I look forward to helping the team build on our progress so far, including our strong industry relationships and our outstanding positioning in the marketplace."

Martin has been with Markel for 17 years and has held management positions in operations, underwriting, business development, strategy and finance. He has extensive experience in leading transformation and building high-performing teams, including achieving operational efficiency and process improvement while leveraging technology, harnessing data and improving executional capabilities.

"Bryan Sanders and his team have built an incredible franchise in the marketplace, and I'm committed to working with him to achieve a seamless transition,” Martin said. "I leave the finance function in good hands with Brian Costanzo and the finance leadership team. Brian is extremely well qualified to take the finance function forward at Markel. I look forward to working with my colleagues across Markel Specialty as we add value to our clients by delivering exceptional products and first-class service."

Costanzo has been with Markel for 14 years. He has held a variety of leadership roles within Finance and has played a key role in leading strategic efforts within Finance in regard to operational efficiency, actuarial transformation, technology and data.

Kryszon has been with Markel since 2019 and brings extensive experience driving growth and profitability through initiatives relating to portfolio optimization, climate change and environmental, social and governance matters. As chief underwriting officer for Markel Specialty, he will lead and direct overall underwriting strategy and operations and product development across all product lines within Markel Specialty.

Oosterheert, who has been with Markel since 2019, brings more than 20 years of industry experience across underwriting and product management, strategy and operations. She has led Markel's global strategy team and has played an integral role in working across the organisation on strategy, data, technology and operations efforts.

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