Markel overhauls liability lines business on back of ‘significant growth’
Specialist insurer Markel International has split its liability line business led by Andrew Carter into two distinct units in a move it says will allow for a deeper focus for investment to target growth products.
Following the restructure, Louise Foley (pictured left) will head marine and energy liability, while Holley Higgins (pictured right) will lead transport and logistics, both reporting to Carter, head of liability at Markel International.
The business under Foley’s remit will include all marine liability and energy liability writings, as well as protection and indemnity. Higgins will be responsible for ports and terminals, marine trades, UK marine, cargo liability, and professional indemnity.
Galleon, the specialist MGA purchased by Markel in 2016, will be formally rebranded as Markel and included within cargo liability and the marine professional indemnity sub-classes, as part of the restructure.
Meanwhile, Simon Engelen will continue in his role as portfolio manager of liability at Markel International.
Markel said its liability team, led by Carter, has achieved “significant growth” in gross written premium (GWP) over the last five years, which has prompted the restructure, and the appointments position it for continued progress.
“The devolved and specialist teams will be empowered to make decisions, which will enable Markel International to maintain the high level of service it’s known for, while we continue growing in this space in the future,” said Carter. “I’m delighted to appoint Louise and Holley, who have both been instrumental in our success so far.”
Foley has over eight years of underwriting experience at Markel International and was previously senior underwriter for liability.
“I have been with Markel for nearly a decade” he said. “During this time, I have seen our liability offering go from strength-to-strength. I am proud and delighted to head up Markel International’s new marine and energy liability team, as we continue to enhance our expertise, strengthen our leadership position, and deliver exceptional products and services.”
Higgins was a senior underwriter for ports and terminals, marine trades, and UK marine at Markel International, where she supported the marine liability team.
“The new structure marks a fundamental business change for us as a team, as we reflect on what we have achieved and plan for the future” said Higgins. “I’m excited to take on this leadership role as we continue to grow and develop marine liability at Markel International.”
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