Markel lures Catlin & Arch execs

Specialist insurer Markel has hired two executives, one from Catlin and one from Arch, into its financial risks division.

Martin McCarron has been appointed head of financial institutions and Nick Rugg joins as financial institutions team underwriter.

McCarron joins Markel from Catlin where he has worked since 2009 as class underwriter in its financial risk division, underwriting a book covering banker’s blanket bond, commercial crime, professional indemnity, directors’ and officers’ liability and plastic card insurance. Prior to this he spent more than 12 years at Lockton Companies International where he was a divisional director in the professional and financial risks team.

Rugg has over eight years’ insurance experience most recently, for the last five years, as financial institutions and directors’ and officers’ underwriter at Arch.

James Hastings, managing director of the professional and financial risks division, said: “Financial institutions is an important class for us and the new team, led by Martin and supported by Nick, will position us strongly in the market. They are experienced, well-connected and we look forward to them playing an important part in the further development of our professional and financial risks team.”