Markel reveals new chief risk officer

Specialty insurer Markel Corporation has appointed Julia Chu as new chief risk officer (CRO).

In her new role, Chu will be responsible for Markel's enterprise risk management, capital planning, and ceded reinsurance placements, all of which serve a critical role in managing insurance risk.

Markel said Chu's leadership will help efficiently utilise capital to create value for customers and shareholders.

Chu will be based in Markel's corporate headquarters in Richmond, Virginia.

"This appointment reflects the contributions Julia has made to our enterprise risk management framework," said Jeremy Noble, chief financial officer of Markel. "She has played a key role in further developing and implementing Markel's ceded reinsurance strategy and has been instrumental in positioning our reinsurance placements and partnering with executive leadership to build and protect Markel's capital.

"As our new Chief Risk Officer, Julia will lead Markel's end-to-end global approach to enterprise risk management, particularly with regards to our insurance-related business strategies and improving risk adjusted returns."